Swiss blockchain incubation center opens in Mother City

From left: Mahias Ruch, CEO of CV VC; University of Cape Town Vice Chancellor Mamokgethi Phakeng; CV VCs Lorenz Furrer; and Véronique Haller, Deputy Head of Mission at the Swiss Embassy in Pretoria.

Swiss blockchain investor Crypto Valley Venture Capital (CV VC) and its ecosystem company CV Labs have chosen Cape Town as the site of their African-based blockchain incubation center.

CV VC with headquarters in Switzerland is a private venture capital company that offers seed financing and an incubation program to global technology teams in exchange for equity.

In a statement, the company says that CV Labs Cape Town is the first dedicated place in Africa that will enable blockchain start-ups to flourish, with the goal of being the heartbeat of the African blockchain ecosystem.

It further notes that the opening of CV Labs Cape Town is a culmination of Switzerland’s and SA’s commitment to blockchain technology, following the bilateral education, research and innovation collaboration that began in 2019.

In addition to the Cape Town location, CV Labs already has blockchain hubs in Switzerland (Zug) and Liechtenstein (Vaduz), with a Germany (Berlin) launch also in the pipeline, it says.

Gideon Greaves, CEO of CV VC Africa, states: “Our commitment to Africa is to enable the start-up of the blockchain to catalyze greater socio-economic well-being for people and industries. Following our investment in 12 African start-ups, and the publication of the first African Blockchain Report in collaboration with Standard Bank, CV VC has demonstrated its deep commitment to the region by opening CV Labs Cape Town hub.

“We are equally excited about the upcoming launch of our African Blockchain Early Stage Fund, which will allow global investors to invest alongside CV VC in African technical expertise.”

CV VC points out that the African continent embraces the newfound independence that blockchain technology provides, and notes that Africans see new-age technology as a means of improving everyday life while solving fundamental difficulties.

Ian Putter, Head of the Blockchain Center of Excellence at Standard Bank Group and Regional Director of the Blockchain Research Institute Africa, adds: “I believe the real potential for exponential leaps in financial inclusion lies in the blockchain infrastructure that underpins cryptocurrencies rather than in itself. the assets.

“We are very pleased to see the opening of CV Labs Cape Town, as it will enable the further emergence of blockchain as a resource from which Africa can build large blockchain companies.”