Switzerland has long been a global hub for blockchain innovation, and at the heart of this thriving ecosystem—known as Crypto Valley—21.co has just solidified its position as the country’s largest crypto unicorn. With a fresh valuation of approximately **$2 billion** following a new $25 million funding round, the company is setting a bold precedent for growth, resilience, and innovation in the digital asset space.
Backed by London-based hedge fund Marshall Wace, 21.co continues to expand its influence across the decentralized finance (DeFi) and digital asset investment landscape. Headquartered in Zug—commonly referred to as Crypto Valley—with additional offices in Zurich and New York, 21.co now stands as a flagship representative of Swiss fintech excellence.
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The Rise of 21.co: From Startup to Crypto Powerhouse
Founded in 2018 by Ophelia Snyder and Hany Rashwan, 21.co began with a vision to bridge traditional finance with the emerging world of cryptocurrencies. What started as a forward-thinking startup has evolved into a major player in the global crypto infrastructure arena.
The company recently restructured to become the parent entity overseeing several key subsidiaries, including:
- 21Shares: The world’s largest issuer of cryptocurrency-based financial products.
- Amun: A Seychelles-based tokenization platform focused on simplifying access to DeFi.
- Onyx: A proprietary platform developed by 21Shares to manage and operate its suite of 37 crypto ETPs (exchange-traded products).
This strategic consolidation positions 21.co not just as an innovator, but as a comprehensive ecosystem provider in the digital asset industry.
Defying Market Downturns: Growth Amidst Crypto Winter
One of the most remarkable aspects of 21.co’s journey is its ability to thrive during one of the most challenging periods in crypto history—the so-called “crypto winter.” While many startups faltered under market volatility and declining investor sentiment, 21.co secured multiple funding rounds and maintained strong financial performance.
Key highlights include:
- Achieving nine-figure revenue in 2021.
- Attracting over $650 million in net new investments in the fiscal year ending September 2022.
- Reaching a peak of $3 billion in assets under management (AUM) in November 2021.
These figures underscore the company’s resilience and the growing institutional demand for regulated, transparent crypto investment vehicles.
“Although we are still in the early stages of our journey, as of today, we are one of Switzerland’s highest-valued and largest tech startups,” said Hany Rashwan, co-founder of 21.co.
Ophelia Snyder added, “We’ve only just begun to transform the world of crypto and build bridges within this asset class.”
21Shares: Powering Institutional Crypto Adoption
At the core of 21.co’s success is 21Shares, which has established itself as the leading issuer of crypto ETPs globally. These exchange-traded products offer investors exposure to digital assets like Bitcoin and Ethereum through regulated, exchange-listed instruments—making them accessible to both retail and institutional players.
The Onyx platform powers the entire ETP lifecycle, from issuance to ongoing management. It ensures compliance, transparency, and operational efficiency—critical factors for gaining trust in traditional financial markets.
Meanwhile, Amun extends 21.co’s reach into decentralized ecosystems by enabling simplified access to DeFi protocols. This dual approach—bridging centralized financial infrastructure with decentralized innovation—positions 21.co at the forefront of the next phase of financial evolution.
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Why Switzerland? The Crypto Valley Advantage
Zug, Switzerland—often dubbed Crypto Valley—has become synonymous with blockchain innovation. Its business-friendly regulations, low corporate taxes, skilled workforce, and supportive government policies have attracted hundreds of blockchain companies, including Ethereum Foundation and numerous DeFi projects.
For 21.co, being based in Zug offers strategic advantages:
- Proximity to legal and financial experts familiar with blockchain regulation.
- Access to top-tier banking and custody solutions tailored for digital assets.
- A collaborative ecosystem that fosters partnerships and innovation.
This environment has allowed 21.co to scale rapidly while maintaining compliance and operational integrity—a rare combination in the fast-moving crypto world.
The Future of Digital Asset Infrastructure
As global interest in digital assets continues to grow, companies like 21.co are playing a pivotal role in shaping the infrastructure needed for mass adoption. By offering regulated investment products through 21Shares, enabling DeFi access via Amun, and leveraging advanced platforms like Onyx, 21.co is helping to democratize access to crypto while ensuring security and transparency.
The company’s success also signals a broader trend: institutional confidence in crypto is not fading—it’s maturing. Investors are no longer chasing speculative gains; they’re seeking reliable, regulated pathways to participate in the digital economy.
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Core Keywords:
- Crypto Valley
- 21.co
- 21Shares
- crypto unicorn
- digital asset infrastructure
- DeFi access
- crypto ETPs
- blockchain innovation
Frequently Asked Questions (FAQ)
Q: What is a crypto unicorn?
A: A crypto unicorn is a privately held startup in the blockchain or cryptocurrency sector valued at over $1 billion. 21.co recently achieved this status with a $2 billion valuation.
Q: Where is 21.co headquartered?
A: 21.co is headquartered in Zug, Switzerland—known globally as Crypto Valley—and maintains offices in Zurich and New York.
Q: What does 21.co own?
A: 21.co is the parent company of 21Shares (the world’s largest crypto ETP issuer), Amun (a DeFi-focused tokenization platform), and the Onyx technology platform.
Q: How did 21.co grow during the crypto winter?
A: Despite market downturns, 21.co secured funding, achieved nine-figure revenue in 2021, and attracted over $650 million in net new investments by September 2022.
Q: What are crypto ETPs?
A: Crypto Exchange-Traded Products (ETPs) are regulated financial instruments traded on stock exchanges that provide exposure to cryptocurrencies like Bitcoin and Ethereum without requiring direct ownership.
Q: Who founded 21.co?
A: 21.co was founded in 2018 by Ophelia Snyder and Hany Rashwan, who continue to lead the company’s strategic vision.