Bull sentiments for ADA coin surge, as Cardano-powered SingularityNET sets up AI advancement shop in Switzerland 

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SingularityNET established its foundation in Switzerland to expand its global community to European countries. 

SingularityNET (AGIX) is a popular decentralised artificial intelligence (AI) tech-focused marketplace. This marketplace runs on the Ethereum and Cardano (ADA) networks. On this platform any developer can submit & publish his creation & anyone has the right to use it in his own way i.e commercial or non-commercial. 

Recently the company announced that it relocated its headquarters from Amsterdam to Zug. 

Zug is in Switzerland and this place is known as “Crypto Valley” or say the hotspot of innovative crypto startups. 

This latest decision by the company is focused on achieving the goals of decentralisation as well as expansion of the SingularityNET ecosystem.

Ben Goertzel, the CEO & founder of SingularityNET, said that the latest decision is going to change the future of SingularityNET because it will give a better push to Web3-focused development, achieve the vision, & address the modern Web3 challenges across the world. 

With the help of STORM Partners, SingularityNET made this decision. Switzerland is a better jurisdiction for crypto companies & mainly Web3-focused companies because of the country’s state-of-the-art infrastructure, location, and progressive regulatory landscape. 

According to the company, Switzerland will provide a better opportunity for them to promote services, values of decentralisation, democracy, and inclusiveness across its organisation.

As per recent reports, the valuation of Swiss-based crypto projects for only Ethereum, Cardano, and Solana reached $383 billion and this amount is a 107% year-over-year increase, driven by the overall recovery in the crypto market.

Notably in the last couple of years, the majority of the VC firms distanced themselves from the new crypto startups, while crypto-focused VCs reduced their investment in business 

Despite the downfall of VC funding inflow in the crypto market, the inflow of money in Switzerland always surged to a significant degree. 

Read also: Hong Kong regulatory body warns scammer running scam “MEXC” crypto exchange