Press Release: SEALCOIN AG Confirms FINMA (Swiss Regulator) Classification and Licensing Clarification for its Hybrid Transactional Internet of Things TIOT Token
SEALCOIN AG Confirms FINMA (Swiss Regulator) Classification and Licensing Clarification for its Hybrid Transactional Internet of Things TIOT Token
Zug, Switzerland -- November 18, 2024 -- WISeKey International Holding Ltd. ("WISeKey" or the "Company") (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations operating as a holding company, via its subsidiary SEALCOIN AG, is pleased to confirm that, in line with its interpretation of ICO guidelines published by the Swiss Financial Market Authority ("FINMA"), the SEALCOIN transactional-IoT ("TIOT") token is classified as a hybrid token with both utility and payment functionalities, consistent with its description in the SEALCOIN whitepaper. This classification reflects the dual-purpose of the SEALCOIN TIOT token, which is designed to facilitate secure IoT transactions and enable decentralized payments, and will be issued following the go-live of SEALCOIN platform.
Additionally, SEALCOIN AG confirms that no specific license will be required for the issuance and utilization of its SEALCOIN TIOT tokens, as currently outlined. As part of the next steps, SEALCOIN AG plans to register with a Self-Regulated Organization (SRO) in accordance with the Anti-Money Laundering Act. This regulatory alignment reinforces SEALCOIN's commitment to driving secure, decentralized IoT interactions while maintaining full compliance with Swiss regulatory standards.
The SEALCOIN TIOT token was purposefully designed by SEALCOIN AG to address both the technical and business demands of decentralized IoT transactions. Its primary role is to enable real-time data exchanges, energy trading, and secure service interactions within IoT ecosystems. By focusing on practical, scalable solutions, the SEALCOIN TIOT token will ensure secure, automated, and decentralized device interactions, creating a transformative impact on IoT operations. This purpose-driven design positions the SEALCOIN TIOT token as a key component for enhancing connectivity and efficiency across interconnected devices.
For more information and a detailed overview of the SEALCOIN TIOT token and its role in decentralized IoT transactions, please refer to the SEALCOIN whitepaper available at www.sealcoin.ai.
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.
About SEALCOIN
SEALCOIN is a decentralized platform designed to facilitate secure, autonomous transactions between IoT devices. Built on Hedera Hashgraph, SEALCOIN allows devices to engage in seamless service-for-payment exchanges without the need for intermediaries. With a focus on privacy, scalability, and decentralized governance, SEALCOIN is poised to revolutionize the Internet of Things (IoT) landscape.
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.
Press and Investor Contacts
WISeKey International Holding WISeKey Investor Relations (US) Ltd The Equity Group Inc. Company Contact: Carlos Moreira Lena Cati Chairman & CEO Tel: +1 212 836-9611 / lcati@equityny.com Tel: +41 22 594 3000 Katie Murphy
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