WISeKey International Holding Ltd. (NASDAQ: WKEY
), a global firm focused on cybersecurity, digital identity, and Internet of Things (IoT) solutions operating as a holding company, through its subsidiary WISe.ART, a key player in the field of digital art and luxury collectibles, is pleased to announce the closing of “a strategic investment round with The Hashgraph Association (THA), a Swiss-based non-profit association that is accelerating broad adoption of the Hedera network globally.”
This milestone investment is set “to propel the expansion and utilization of the Hedera network and further the development of the innovative WISe.Art and SEALCOIN cryptocurrencies.”
As noted in the update, Hedera says it is “a sustainable public ledger for the decentralized economy, offers ultra-low transaction fees, fast network speeds, scalability, and real-time settlement to empower the next-generation of digital finance.”
SEALCOIN, is a digital token and “an advanced cryptocurrency protocol, offered by SEALSQ Corp (NASDAQ: LAES), a subsidiary of WISeKey, which focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products.”
SEALCOIN is designed to establish “a robust economy specifically for billions of internet-driven devices, enabling them to exchange not just data but also currency seamlessly.”
Carlos Moreira, Founder and CEO of WISeKey, said:
“This investment from THA will accelerate the development of the WISe.ART platform V3.0 and enhance the Trusted NFT solution. WISe.ART, a comprehensive digital marketplace for the arts and technology sectors, offers unique capabilities including curator and multiplier options, white-labeling, and exclusive NFT designs. The platform is designed to establish authenticated, signed digital assets, ensuring provenance, assurance, and secure ownership.”
Kamal Youssefi, President of The Hashgraph Association, added:
“The collaboration with WISe.ART further expands Hedera’s distributed ledger technology (DLT) to the mainstream. We are excited to collaborate with WISe.ART, and leverage WISeKey’s commitment to authenticating physical objects by providing the much needed assurance in securing digital assets through advanced security technologies.”
The tokenization of WISe.ART’s equity-shares “through the legal and regulatory compliant issuance of digital shares under the Swiss regulatory framework (Swiss DLT Act) and using the Hedera Token Service (HTS), enables the future of investment and enhances the efficiency, liquidity, and security of share trading, with the subsequent listing of WISe.ART’s tokenized equity-shares on a regulated digital securities exchange.”
A pivotal aspect of this funding is “the integration of the Hedera enterprise-grade network into SEALSQ IoT devices with secure, decentralized currency transactions.”
Hedera claims that it is a decentralized, open-source, proof-of-stake DLT that “utilizes Asynchronous Byzantine Fault Tolerance (ABFT) – the highest degree of security for a consensus algorithm, with the Hedera network governed by some of the world’s leading organizations, Web3 companies, and academic institutions.”