Future Holdings AG, a Zurich-based Bitcoin treasury company co-founded with the involvement of Adam Back — the cryptography pioneer behind Hashcash and a foundational figure in Bitcoin's proof-of-work mechanism — has raised 28 million Swiss francs ($35 million) in a funding round led by Fulgur Ventures, Nakamoto, and TOBAM.
FUTURE operates across four integrated service areas: Bitcoin treasury management for corporate balance sheets, institutional research, secure multisignature custody infrastructure, and advisory services for organizations navigating the transition from traditional treasury instruments to Bitcoin-based reserves. The company has explicitly branded itself as Switzerland's premier Bitcoin treasury company, positioning Zurich — with its 0% base rate environment and 0.12% yield on ten-year Swiss government bonds — as uniquely hospitable to the Bitcoin treasury thesis.
Chairman Richard Byworth of Syz Capital stated: "Our strategic positioning in one of Europe's key financial centres, with a 0% base rate and 0.12% yield on ten-year bonds, combined with a team of Bitcoiners boasting strong financial pedigrees, creates a significant opportunity set for a bitcoin treasury company."
The logic is straightforward and compelling: when traditional treasury instruments yield effectively nothing, the opportunity cost of holding Bitcoin on a corporate balance sheet collapses. Switzerland's low-yield environment creates a structural incentive for Swiss-domiciled corporates and family offices to explore Bitcoin as an alternative treasury reserve — the precise gap FUTURE is designed to bridge with institutional-grade custody, compliance infrastructure, and advisory support.
FUTURE's leadership team combines deep Bitcoin technical credibility with serious traditional finance pedigree. CEO Sebastien Hess brings fintech and Bitcoin entrepreneurship experience, while Chairman Richard Byworth arrives from Syz Capital, a Geneva-based private bank with over $35 billion in assets under management. Marc Syz and Julian Liniger — the latter the CEO of Relai, Switzerland's leading Bitcoin mobile app — round out a team that bridges both worlds. The lead investors — Fulgur Ventures (a Bitcoin-focused venture fund), Nakamoto (Michael Saylor's company's international arm), and TOBAM (a Paris-based asset manager known for Bitcoin research) — validate the institutional quality of the raise.
For investors and corporate treasurers, FUTURE's emergence reflects a broader institutional trend toward Bitcoin as a treasury reserve asset — a movement that began with MicroStrategy in 2020 and has since spread to publicly listed companies across Asia, Europe, and North America. Switzerland's unique combination of regulatory clarity, banking secrecy traditions, and near-zero domestic yields makes it a natural early adopter market. The CHF 28 million raise signals serious institutional conviction, and FUTURE's planned Bitcoin Forum 2026 will likely accelerate European corporate engagement with the Bitcoin treasury thesis.
Keywords: Markets|Bitcoin|Adam Back|Digital Asset Treasury|Switzerland|News
Source: CoinDesk