WISeKey introduces WISeCoin Wallet, a contactless hardware enabled wallet to offer security and ease of use for cryptocurrency users

WISeKey introduces WISeCoin Wallet, a contactless hardware enabled wallet to offer security and ease of use for cryptocurrency users

ZUG, GENEVA, Switzerland – October 31, 2017- WISeKey International Holding Ltd (WISeKey) (SIX:WIHN), a leading Swiss cybersecurity and IoT solutions company, announced the introduction of WISeCoin Wallet, a contactless hardware enabled wallet designed to offer security and ease of use for cryptocurrency users.

WISeCoin Wallet provides users with contactless access to their private key and allows them to make contactless transactions and payments. WISeCoin Wallet uses a combination of Near Field Communication (“NFC”) technology with highly secured solutions provided by the WISeKey Semiconductors and is now available through the WISeWallet App. Every time a contactless Blockchain transaction is made, such as a Bitcoin transaction, the private key is fetched from the NFC Hardware storage to enable the transaction.

While the exchanges and software wallets continue to get hacked, the hardware wallets have gained popularity as they are providing the most secure solution for transaction and payments. Through the WISeCoin Wallet, hardware wallets have now become contactless and users can establish multiple private keys into the secure store using the same WISeWallet App and access these private keys while making transactions in contactless mode.

The WISeWallet App is compatible with most of the existing blockchain technologies and works as part of payment system using WISeKey Blockchain-as-a-Service (“BaaS”) technology offerings. To empower a seamless cryptocurrency enabled economy, WISeCoin is supplemented with additional highly secured WISeWallet solutions (biometrics enabled variants also available), integrated exchange platforms, NFC-based contactless payment solutions, etc. WISeKey’s objective is for WISeCoin to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on Blockchain technology.

In the second phase, WISeKey will release an embedded WISeWallet, an advanced hardware wallet equipped with its own security hardened operating system and with wireless functionality, able to connect with smart phones of any type, as well as desktops/laptops/iPads through Bluetooth and Wifi.

While all these security and ease of use features are very important, there has to be a proper recovery option for the wallet when the hardware storage is lost, broken or stolen. Thus, a backup copy of all private keys is stored in the military grade bunkers in the Swiss Alps with proper Hardware Security Module (HSM) and sophisticated recovery mechanisms are in place for a reliable and consistent Wallet solution.

About WISeKey:

WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystems. WISeKey’s Swiss based cryptographic RoT (“RoT”) and IoT Microchips 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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Disclaimer:

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.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.