aXedras: Right Place for the Business – A Key Decision
Choosing the right place to set up a business requires a pain-staking amount of analysis and homework, and can obviously affect then how that business starts off and thrives…if it thrives! The aXedras Group was no different. Switzerland was THAT right place for this technology company to initiate and lead the digital transformation of the precious metal industry applying the latest distributed ledger technology (DLT).
For our regular readers, you are aware of the aXedras Group, a tech start-up launched by the BFI Capital Group’s Chairman, Frank R. Suess, along with some close business partners. aXedras was founded in 2018, and since then, this independent technology company has taken rise quickly. Their quick rise in this sphere of the blockchain-based Distributed Ledger Technology has already seen them honorably mentioned in a few periodicals as a business to keep an eye on. And you can now find more information on them at our Group’s website.
While there are a few reasons for their early success, one key decision was the choice of where to set up the company. We lightly brag about Switzerland quite often – we say “lightly” only because us Swiss still tend to be quite humble in this regard – as being attractive for business, but many companies have followed suit thanks to the decentralized Swiss political system and its matchless business environment, to just name a few.
Ms. Kathrin Wolff Schmandt, a Senior Advisor at aXedras, recently hit on these key points and more as to why choosing Switzerland was the right place to start up the company, especially in the context of its unique technology being used for the precious metals industry:
Deciding where to settle for a start-up business is a key decision and critical to determine early success or failure.
aXedras has done its homework, analyzed, and evaluated. All signs led to settle in the center of the leading Blockchain/DLT valley, in the heart of the world’s precious metal trade and refineries and in a country leading innovation and keen to foster and revolutionize the technology and finance industry.
Therefore, working out of Switzerland supports aXedras’ ambition to become the global “Know-Your-Asset”, digital technology standard and leader of high-value physical asset industries, with a starting point in the precious metal industry.
World’s leader in fostering innovation – high-tech and Blockchain Focus on R&D and innovation with a strong high-tech affinity. Blockchain/DLT projects and companies have settled in the Crypto Valley which counts among the leaders in the world hosting 11 unicorns. It is the first country worldwide to have issued a “DLT/Blockchain Legislation Act”, a law that enables the complete digitization of Swiss Capital Markets. It's a framework and legal basis for the issuance, trading, and ownership of digital assets. Hence, this is the basis for the aXedras ecosystem and the digital twin of the precious metal.
A central base in the global precious metal industry More than 50% of the precious metals produced globally are refined in Switzerland and almost a quarter of the world’s gold trade flows through Switzerland – the right place to be to digitize the precious metal value chain.
Home of the high-end product - luxury and wealth industry The high-end product industry like watches and jewelry will profit from a digitized ecosystem. As the world’s leading and most competitive financial centers (leader in wealth management), it manages around one quarter of the world's cross-border assets. Fintech companies are on the rise with two licensed and certified crypto-banks and many challengers in the digital asset space.
ESG sensitivity and focus ESG has become the focus point of consumers, investors, and producers, hence transparency and immutable documentation is sought after.
Political stability, top infrastructure Switzerland provides to aXedras strong advantages with regards to legal security, independent currency, a neutral government, a stable financial market, modern regulatory framework and a world-leading infrastructure.
Central geographic location Located in the heart of Europe – fast connected to the global market