I think you are mistaken, this traxia is a Chinese project, formally but registered in Switzerland it seems to me this it's made of legal subtleties. Although I can be mistaken, because I have not seen any papers about registration.
According to whitepaper, Traxia is a non-profit foundation being established under the laws of Switzerland and legally, that makes it a Switzerland company.
However, someone ask Tobias ( is the guy that appears in their video ) this question " Is there anyone actually in the office in Zug or is this just for legal address? "
Tobias's reply was : The address in Zug is mainly for legal reasons, we might build up a team in Switzerland. Currently the majority of the team works from Shanghai and we get additional support from people in Germany and Spain.
yeah this is not something new, 99% of ICOs are just registered in an other country and the stuff is in an other country. But it is interesting why they choose Switzerland to register this ICO.
BTW, they still didn't share the incorporation certificates yet, but there is nothing called to register ICO at current time, you actually register a company that will do a business. The way you get money to fund the project is a different story and no government gives license for that since there is regulation for ICO.