Armenian startup LayerSwap helps cryptocurrency users move their assets at a low cost (on-ramp/off-ramp) using Bransfer. The platform has over 10,000 active users who have already transferred over $17 million of cryptocurrency. Nine months after its founding, LayerSwap raised $1.5 million in pre-seed funding from leading crypto companies and venture capitalists. The company is currently raising the seed phase of investments and plans to receive $7 000 000. They have already raised $1 500 000 from $8B valued StarkWare, which is one of the pioneers of blockchain scaling solutions. Besides, a strategic partnership has been announced between them.

Over the past 10 years, the IT sector in Armenia has shown unprecedented growth, recording an average annual growth of 23%. Over the past two years, more than 20 start-up companies in Armenia have together received 700 million dollars of investment. Armenian start-ups are exempt from taxes on business, and the income tax for employees is 10%. According to 2021 data, the total turnover of IT companies operating in Armenia exceeded 1 billion dollars. As of 2021, the industry employs 29,000 professionals.