Switzerland may have the crypto centre in Zug, but there is still plenty of room for Liechtenstein. This is the opinion of Klaus Stark, Thomas Nägele and Tobias Fitz, the three founders of the Crypto Country Association.
In an interview with the Wirtschaft Regional, Klaus Stark, a trustee, said: “We in Liechtenstein are one of the first financial centres to become aware of these opportunities, after the Crypto Valley in the canton of Zug.”
Founded at the end of July, the association and the Liechtenstein Financial Market Authority (FMA) are receiving new inquiries in this regard nearly every hour.
“The canton of Zug is currently overwhelmed with new enquiries. They’ve reached the limits of their capacity. We can benefit from this, especially since processes are faster with us, such as when granting a permit,” said Stark.
However, the association is focusing on cooperating with Zug, and it wants to collaborate in order to learn from mistakes.
Thomas Nägele, a lawyer, explained the association’s objective: “If someone receives a request to write the next cryptocurrency, then Liechtenstein’s doors should be open.”
The startups are looking internationally for the best jurisdictions, and the association should act as an intermediately, added Tobias Fitz, a project manager at the University of Liechtenstein and co-founder of Fintech.li. Cryptocurrencies is where the traditional financial world and the fintech universe meet. Fitz is convinced that banks can also benefit strongly from the development.