WISeCoin, through a Security Token Offering (STO), will be available from Q2 2019
Jan 22, 2019
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Geneva, Switzerland - : WISeKey International Holding Ltd (WIHN.SW) ("WISeKey"), a leading Swiss based cybersecurity and IoT company, today announced that WISeCoin AG, a Special Purpose Vehicle created by WISeKey to build the infrastructure for secure intra-object interactions, received a "non-Action Letter" from The Swiss Financial Market Supervisory Authority (FINMA). WISeCoin will pursue a Security Token Offering (STO) and will be available from Q2 2019. The securities being issued by WISeCoin AG are not in any way related to the securities issued by WISeKey International Holding Ltd.
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. It manages all Blockchain initiatives and operations of WISeKey to pave the way for the daily use of 4th Industrial Revolution technologies. 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.
One of WISeCoin's key milestone is to build a Blockchain of Identity to store objects and people's identity. It offers connected objects the ability to identify, authenticate and verify each other with a digital certificate. For each interaction, the Blockchain of Identity will verify the validity of each digital certificate to secure the interaction. To compensate the use of the platform, a micro service fee is charged through a utility token, called the WISeCoin token. To complete the offer, each connected object is equipped with WISeKey's Secure Element consisting of a tamper resistant silicon chip, called VaultIC184.
Carlos Moreira, WISeKey's CEO noted, "We are happy to move forward with the launch of our STO. WISeCoin combines a range of Blockchain enabled 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."
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey Microprocessors Secures the pervasive computing shaping today's Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/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 online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
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