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WISeKey International Holding AG (NASDAQ: WKEY) is a global leader in cybersecurity, digital identity management, and the Internet of Things (IoT) solutions. The company specializes in providing advanced security technologies for data protection, secure identification, and authentication across physical infrastructures, networks, and the internet, ensuring secure communications and e-transactions without compromising trust.
WISeKey operates through several distinctive subsidiaries, each contributing uniquely to its expansive technology portfolio:
- SEALSQ Corp: Focuses on semiconductors, Post-Quantum technology, and provisioning services. Recent investments include the development of quantum-ready semiconductors and the establishment of an Open Semiconductors Assembly and Test (OSAT) Center.
- WISeKey SA: Specializes in Public Key Infrastructure (PKI) management and cryptographic root keys, which are essential for secure digital communications and transactions.
- WISeSat.Space: Focuses on cost-effective satellite deployments through picosatellites, contributing to sectors like agriculture, logistics, and environmental monitoring.
- WISe.ART: Operates in the NFT space and has recently partnered with Hedera to enhance the WISe.ART platform for secure NFT transactions.
WISeKey's innovations are central to the increasingly connected digital ecosystem, providing secure digital identities for individuals, groups, organizations, and communities globally. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. Trusted by the OISTE/WISeKey cryptographic Root of Trust, the company ensures the integrity of online transactions between objects and people.
In 2023, WISeKey achieved significant financial growth, driven by its diversified business model and strategic investments in emerging technologies like blockchain, AI, and IoT. The company continues to expand its footprint with new projects such as the Low Orbit satellite initiatives, upcoming semiconductor personalization centers, and innovations in digital identity and cybersecurity solutions.
SEALCOIN AG, established by WISeKey, has secured a $50 million token investment commitment from GEM Digital to develop a Decentralized Physical Internet Network (DePIN). The project aims to revolutionize the Internet of Things (IoT) using Hedera's decentralized ledger technology (DLT), enabling autonomous transactions among IoT devices through its utility token, SEALCOIN.
Additionally, The Hashgraph Group (THG) has agreed to provide initial investment, engineering expertise, and strategic guidance to SEALCOIN AG. The platform, leveraging Hedera's DLT ledger and smart contracts, is expected to go live in Q4 2024. SEALCOIN's applications span various sectors, including smart home automation, supply chain management, autonomous vehicles, and healthcare devices.
WISeKey International Holding (SIX: WIHN; Nasdaq: WKEY) has renewed its WebTrust seal of assurance for its OISTE/WISeKey Trust Model and certification services. This renewal demonstrates WISeKey's compliance with rigorous industry standards in four key areas: WebTrust for Certification Authorities, Baseline Requirements, Extended Validation, and S-MIME (new for 2024).
The company's Trust Services are delivered via advanced certificate management platforms, leveraging automation and crypto-agility. WISeKey is also investing in post-quantum trust services through its SEALSQ Corp (Nasdaq: LAES) affiliate. In addition to WebTrust, WISeKey maintains other independent audits and accreditations, including recognition for IoT standards like Matter, Wi-Sun Alliance, and GSMA.
WISeKey International Holding (SIX: WIHN, NASDAQ: WKEY) has successfully executed a Proof of Concept (PoC) for its Transactional-IoT (t-IoT) technology, codenamed Project SEALCOIN. This breakthrough demonstrates the potential for disintermediation of service providers in interconnected devices. The PoC showcases advanced technology embedded in semiconductor devices, enabling autonomous transaction validation and verification.
Key features include:
- Use of Secure Element for protecting private keys and device identity
- Elliptic curve cryptography compatible with Hedera's Decentralized Ledger Technology
- Direct device-to-device transactions, eliminating intermediaries
- Real-time authentication and signing of on-chain transactions
WISeKey's subsidiary, WISe.ART, has announced a transformative shift to a Web 3.0 platform, aiming to revolutionize the ultra-luxury market. This move leverages blockchain technology to provide transparency, authenticity, and accessibility for Ultra-High-Net-Worth Individuals (UHNWIs) seeking exclusive assets such as boats, fashion, art, villas, watches, jewelry, and travel experiences.
The new platform enables direct listing of luxury assets, reducing the need for intermediaries and lowering transaction fees. Smart contracts automate agreements, ensuring secure and efficient transactions. WISe.ART also introduces fractional ownership, allowing multiple investors to share high-value assets. Additionally, blockchain-based digital identities enhance trust and transparency.
Virtual and augmented reality technologies offer immersive experiences, eliminating the need for physical showrooms and reducing operational costs. NFTs provide digital certificates of ownership, ensuring authenticity and provenance. This strategic move aligns with the principles of the TransHuman Code, promoting luxury and sustainability.
WISeKey announced the formation of SEALCOIN AG, a Special Purpose Vehicle (SPV) aimed at advancing the SEALCOIN decentralized technology project. The incorporation is expected to be completed by early July 2024, in partnership with The Hashgraph Association, which will also be a strategic investor. SEALCOIN, initiated as a proof of concept by SEALSQ Corp in January 2024, aims to set new standards for secure decentralized transactions. The project will leverage SEALSQ’s semiconductor expertise and WISeKey’s cybersecurity capabilities. The SEALCOIN AG formation reinforces WISeKey’s commitment to regulatory excellence under Switzerland’s blockchain and DLT guidelines.
WISeKey's subsidiary, WISeSat.Space, announced a pioneering project to integrate blockchain technology with satellite operations. Scheduled for a SpaceX launch in October 2024, this initiative aims to enhance aspects of the satellite industry, including logistics, insurance, and data security. The blockchain nodes will be operated from the new WISeSat Satellite, promising increased transparency, efficiency, and security. Blockchain's utilization will streamline satellite operations through smart contracts, reduce energy costs, and offer better cybersecurity. The integration will also decentralize the blockchain network, making it more resilient. This technology could improve financial inclusion in remote areas and provide significant economic opportunities, particularly in developing regions.
On June 28, 2024, WISeKey announced that shareholders approved all agenda items at the 2024 Annual General Meeting held on June 27, 2024. Key decisions included the re-election of Carlos Moreira as Chairman and other members of the Board of Directors. New board members Philippe Doubre, Philippe Monnier, and John O'Hara were also elected. Shareholders approved a per share nominal value reduction for Class B and Class A Shares, which will allocate funds to statutory capital reserves without reducing current equity. The 2023 Annual Report and financial statements were approved, along with discharges of liability, compensation reports, and re-elections for auditing roles. The share capital reduction is expected to be implemented in the upcoming weeks.
WISeKey subsidiary WISeSat.Space has announced plans to advance secure IoT connectivity and climate monitoring via satellite technology. Key developments include launching a new satellite generation from California in Q4 2024, installing a satellite antenna in Switzerland the same quarter, and creating a European-based satellite constellation to ensure data sovereignty and technological independence. Additionally, WISeSat.Space is partnering with the Swiss Army to enhance its operational capabilities through secure satellite communication. The initiative aims to optimize global IoT coverage and support environmental monitoring, disaster management, and smart agriculture.
WISeKey and its subsidiary SEALSQ announced a joint venture, QUANTIX EDGE SECURITY (Quantix EdgeS), with ODIN Solutions and TProtege. The venture, located in Murcia, Spain, aims to create a Cybersecurity and Semiconductor Customization Center, and is negotiating for funding from Spain's PERTE Chip program. This initiative supports Spain’s strategy to become a global leader in cybersecurity and semiconductor technology, aligning with the EU’s Chip Act.
Quantix EdgeS will enhance Spain's capabilities in sectors like smart cities, IT infrastructure, 5G/6G networks, smart agriculture, and more. Leveraging WISeKey's global expertise and SEALSQ’s semiconductor know-how, along with OdinS's innovation in IoT and AI, and TProtege’s regional presence, the venture aims to develop cutting-edge cybersecurity solutions and attract investment, fostering digital transformation in Spain.
WISeKey announced the retirement of Peter Ward as CFO, effective June 30, 2024, and appointed John O’Hara as the new CFO starting July 1, 2024. Peter Ward, who has been with WISeKey since 2008 and served as CFO since 2015, will remain on the Board of Directors. John O’Hara, currently CFO of WISeKey's subsidiary SEALSQ, has extensive experience in financial control, compliance, and risk management. CEO Carlos Moreira praised Ward's contributions to WISeKey's growth and expressed confidence in O’Hara's ability to drive financial excellence and cost-saving initiatives.
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