Crypto Valley funding reached $728 million across 31 deals in 2025, according to a new CV VC report. The figure put Switzerland Crypto Valley at 47% of European blockchain funding and 5% of global blockchain funding for the year. The report also said funding in the Swiss cluster rose 37% from the prior year.
The biggest driver was the TON funding deal. The Open Network (TON) accounted for $400 million of the total.
After that came Sygnum Bank with $58 million, M0 with $40 million, Impossible Cloud Network with $34 million, and CratD2C with $30 million. Those figures show how much of the year’s capital came from a small number of large rounds.
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The report also showed a split between capital growth and deal activity. Funding moved higher, but deal count stayed lower than a year earlier. In 2024, Crypto Valley funding stood at $586 million across 56 deals, while the latest report shows $728 million across 31 deals. That points to fewer transactions, but larger rounds.
Crypto Valley funding rose as TON funding deal dominated major rounds
The TON funding deal did much of the work in the annual total. At $400 million, it made up more than half of all Crypto Valley funding reported for 2025.
That helps explain why the yearly figure rose even though the number of deals remained limited. It also shows where the biggest investor attention went inside Switzerland Crypto Valley.
The CV VC report also broke down where capital went by sector. Blockchain networks drew 62% of total funding. Then came infrastructure at 14%, centralized financial services at 10%, and decentralized finance applications at 10%.
So, the data showed that most capital still flowed into core network and infrastructure plays rather than into smaller application layers.
Mathias Ruch, founder and CEO of CV VC, said:
“Nearly half of all European blockchain investment is now flowing into Crypto Valley.”
He added that the numbers reflect a “maturing ecosystem” focused on infrastructure, finance, and the convergence of frontier technologies. His comments came alongside report data that showed stronger capital concentration in fewer rounds.
Switzerland Crypto Valley expands, but Crypto Valley unicorns decline
The report said Switzerland Crypto Valley now hosts 1,766 active blockchain companies, up 134% since 2020. It also showed that Zug remained the center of activity.
Companies based in Zug accounted for 20 of the 31 deals and 88% of disclosed capital. Zurich followed with five deals. That kept the funding base concentrated in the region’s main hubs.
At the same time, the number of Crypto Valley unicorns fell to 10 in 2025 from 17 a year earlier.
The report named Ethereum, Solana, Cardano, Hedera, Toncoin, Polkadot, Near Protocol, Internet Computer, Copper, and Sygnum Bank as the region’s top crypto companies. So, while funding increased, the number of billion dollar companies moved in the other direction.
A spokesperson said the drop in Crypto Valley unicorns was largely tied to weaker market conditions late in the year, which pushed six token projects below the $1 billion threshold.
The same explanation also noted that 21Shares left the ecosystem after its acquisition by FalconX. That kept the report focused not only on funding gains, but also on valuation pressure inside the wider European blockchain funding market.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: April 15, 2026 • 🕓 Last updated: April 15, 2026
