I got you - I was just replying to kylehotchkiss. Either way, if the data is properly client-side encrypted, it shouldn't really matter much where the data is stored, since they would need access to your device to decrypt the data. So I don't see how this is an issue.

My expectation here would typically be that the company itself is governed by a stable, democratic government. It matters, because different legislations can impose different requirements (see recent changes in Australia for example).

Yes, banking secrecy has nothing to do with this and doesn't really apply, since that is more about someone not spilling your information, while here you already ensure on your device that the data is not visible to anyone.

I think you are right - it's a marketing element, but most companies do that, don't they? See for example Apple with "Designed in California", which is really just trying to not only say "Made in China". People have known associations with certain countries (such as Switzerland), which are used for marketing, yes.