WISeKey Partners with Venafi on Post-Quantum Encryption Services

Zug, Switzerland, Aug. 14, 2024 (GLOBE NEWSWIRE) -- WISeKey International Holding Ltd. ("WISeKey" or the "Company") ((SIX: WIHN, NASDAQ:WKEY), a global leader in cybersecurity, digital identity and IoT solutions operating as a holding company, announced today that it has partnered with Venafi, a market leader in machine identity security, to make its Transport Layer Security (TLS) certificate services available on the Venafi Marketplace. WISeKey TLS services, combined with the Venafi machine identity security platform, help customers navigate the challenges of quantum computing, offering crucial support in automated certificate rollout and implementation of crypto-agility capabilities. WISeKey services can now be accessed on the Venafi Marketplace at https://vu.fr/BdsLT.

Crucial Timing of Partnership

As quantum computing nears practical realization, the threat to cryptographic systems, particularly TLS certificates, demands urgent attention. Quantum computers can break widely used encryption algorithms, making post-quantum encryption (PQE) and crypto-agility critical.

TLS certificates are crucial for secure internet communications. Managing these certificates in a post-quantum world involves adapting issuance and lifecycle processes for post-quantum algorithms. Certificate Authorities (CAs) must develop processes for generating and validating post-quantum certificates.

Organizations need to update certificate management tools to handle larger keys and new algorithms, ensuring compatibility with existing systems. Effective monitoring of TLS certificates is essential for security, tracking expiration, detecting compromises, and ensuring compliance. Monitoring systems must adapt to post-quantum certificates and respond to new threats quickly.

Pedro Fuentes, Trust Services Manager of WISeKey, commented, "To remain secure, organizations must stay abreast of developments in quantum computing and post-quantum cryptography. Besides following standards bodies like NIST and participating in industry forums and working groups, it becomes crucial to engage security providers like Venafi and WISeKey that can seamlessly generate publicly-trusted TLS certificates."

Kevin Bocek, Chief Innovation Officer of Venafi, shared, "Venafi is committed to providing customers with the largest connected ecosystem to futureproof success. Venafi is excited for WISeKey to integrate advanced TLS services with the Venafi Control Plane to give customers more flexibility today and agility to be secured against future threats."

Read more about TLS and Post Quantum encryption on the Venafi Blog: https://venafi.com/blog/navigating-the-challenges-of-post-quantum-encryption-and-crypto-agility-in-tls-certificate-management/

Post-Quantum Encryption (PQE):

The challenge in PQE is selecting algorithms resistant to quantum attacks. The National Institute of Standards and Technology (NIST) is working to standardize such algorithms, but predicting their long-term effectiveness is difficult. Post-quantum algorithms require larger keys and more computational resources, leading to increased latency and higher demands on processing power and storage. Transitioning to these algorithms involves significant changes and managing interoperability between classical and post-quantum systems, requiring extensive testing and validation.

Crypto-agility:

Crypto-agility is the ability to switch cryptographic algorithms and keys with minimal disruption. Systems must be designed for flexibility, allowing automated key rotation and integration of new algorithms. This involves abstracting cryptographic operations for easy swapping without major system changes. Implementing automated updates for keys and algorithms is essential but complex, requiring robust monitoring and rollback mechanisms.

About Venafi

Venafi is the cybersecurity market leader in machine identity security. From the ground to the cloud, Venafi solutions manage and protect identities for all types of machines—from physical and IoT devices to software applications, APIs and containers. Venafi provides global visibility, lifecycle automation and actionable intelligence for all machine identity types and the security and reliability risks associated with them. 

With more than 30 patents, Venafi delivers innovative machine identity security solutions for the world's most demanding, security-conscious organizations and government agencies, including the top five U.S. health insurers, top five U.S. airlines, top four payment card issuers and top four U.S. banks. As a leading provider of open source machine identity security solutions, Venafi is the creator of the open source cert-manager project, which is downloaded more than 1.5 million times a day. For more information, visit https://venafi.com/.

About WISeKey:

WISeKey International Holding Ltd (("WISeKey", SIX: WIHN, NASDAQ:WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (NASDAQ:LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey's mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company's semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people.

For more information on WISeKey's strategic direction and its subsidiary companies, please visit www.wisekey.com.

Press and Investor Contacts:

WISeKey International Holding Ltd  Company Contact:  Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected]

WISeKey Investor Relations (US)  The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / [email protected] Katie Murphy Tel: +1 212 836-9612 / [email protected]

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 the Swiss Financial Services Act ("FinSA"), the FInSa's predecessor legislation or advertising within the meaning of the FinSA. 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.