WISeCoin AG has applied for regulatory clearance from the Swiss financial market regulator, FINMA, to issue a Security Token Offering (STO)
Geneva – October 10, 2018 – WISeKey International Holding Ltd (“WISeKey” SIX: WIHN; OTCQX: WIKYY), a leading Swiss cybersecurity and IoT company, announced today that WISeCoin AG, a Special Purpose vehicle created by WISeKey in Zug to build the infrastructure for secure intra-object interactions and transactions, has applied for regulatory clearance from Swiss financial market regulator, FINMA to issue a Security Token Offering (STO).
WISeCoin AG has formally applied for a so-called “no action letter” from FINMA, and with the legal support of Wenger & Vieli AG will prepare to issue a STO in compliance with applicable Swiss law. WISeCoin token will be available for trading on the Lykke Exchange as soon as the regulatory process is completed.
WISeCoin AG was formally established in August 2018 to secure the blockchain and Internet of Things (IoT) world, which due to its continuously increasing size and complexity, is constantly vulnerable to cyber threats. WISeCoin AG benefits from the WISeKey architecture as the first and only vertically integrated platform combining proprietary cybersecurity software and secure microcontrollers designed to protect connected devices against evolving cyber threats.
Through its infrastructure, WISeKey is uniquely positioned to be the first mover in bringing legally enforceable transactions, certified by globally recognized SuisseID and EIDAS accreditations, to blockchain.
To accelerate the pace of the implementation, WISeCoin AG was established to manage all blockchain initiatives and operations of WISeKey. With a strong emphasis on cybersecurity, WISeCoin’s mission is to pave the way for the daily use of 4th Industrial Revolution technologies in the IoT sector through blockchain.
Powered by WISeKey Semiconductors and secured by WISeKey Root of Trust (“RoT”) and Public Key Infrastructure (“PKI”), WISeCoin offers connected objects the ability to identify and authenticate each other, initiate and then complete secure transactions.
Each connected object is equipped with WISeKey’s Secure Element consisting of a tamper resistant silicon chip, called VaultIC184. The state-of-the-art secure microcontroller, which can be easily integrated in any object by the manufacturer, is offered as a provisioning service to transfer the burden of device personalization to WISeKey’s secure Personalization Center. It is a next-generation technology designed from the ground up to be the data and value transfer layer for the Machine Economy.
Carlos Moreira, WISeKey’s CEO noted, “WISeCoin combines a range of microchips with software applications that cater to our customers’ specific business and security needs, enabling them to adapt to an evolving device landscape without compromising digital security. The software solution driven by proprietary technologies, such RoT and PKI, enables our clients to effectively and securely manage their digital identity, information, and communications through a single integrated platform. WISeKey’s RoT secures electronic information/transitions and PKI creates tamperproof electronic ‘fingerprints’ of these digital certificates.”
Mr. Moreira continued, “We are already testing WISeCoin cryptocurrency on smart-cars, as a method of identification and payment between connected objects, allowing these cars to pay for electricity, gas and parking through the integration of WISeCoin crypto wallets at the Secure Element Chip level. WISeCoin provides additional highly secured solutions such as biometrics-driven hardware wallets, integrated exchange platforms, microchips blockchain enabled semiconductors, and NFC-based contactless payment solutions.”
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of on-line transactions among objects and between objects and people.
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Press and investor contacts:
| WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
| WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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