WISeKey Establishes SEALCOIN AG Subsidiary; Incorporation Of Subsidiary Expected To Be Completed In Early July
WISeKey Announces the Establishment of SEALCOIN AG Subsidiary
Special Purpose Vehicle to House Operations of the Revolutionary SEALCOIN Project
Zug, Switzerland, July 2, 2024 – WISeKey International Holding Ltd. ("WISeKey" or the "Company") ((SIX: WIHN, NASDAQ:WKEY), a leading global cybersecurity and IoT company operating as a holding company, today announced that it is in the process of incorporating SEALCOIN AG, a Special Purpose Vehicle ("SPV") that will house the decentralized technology project SEALCOIN. Incorporation of the SPV as a WISeKey subsidiary is expected to be completed in early July 2024 in cooperation with The Hashgraph Association, a Swiss-based association which is at the forefront of digital enablement and empowerment using the Hedera network. The Hashgraph Association will become a strategic investor to the SPV with additional details to be announced in the coming weeks.
The SEALCOIN project aims to underpin decentralization ambitions on a global scale, setting a new standard for secure and efficient decentralized transactions. The project began in January 2024 at WISeKey's semiconductor subsidiary, SEALSQ Corp ("SEALSQ") (NASDAQ:LAES), as a proof of concept.