Geneva, Switzerland, Sept. 20, 2024 (GLOBE NEWSWIRE) — SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced the integration of Internet of Payment (IoP) capabilities into its next-generation IoT-enabled semiconductor solutions. This bold step positions SEALSQ at the forefront of a digital revolution, where connected devices transcend their traditional roles, morphing into dynamic commercial hubs capable of secure and autonomous transactions.
IoP: Ushering in a New Era of Commerce
The Internet of Things (IoT) has transformed everyday objects into smart, connected devices capable of communication and data exchange. Now, with the IoP integration, SEALSQ is taking this transformation further by enabling these connected devices to conduct autonomous, secure transactions, effectively making them part of a vast and efficient commerce network.
The IoP concept reimagines the role of IoT devices, evolving them into commercial platforms that facilitate seamless financial transactions. With this groundbreaking development, everyday items — cars, home appliances, or industrial machinery—will no longer merely communicate but will become active participants in the global economy, processing payments, ordering services, and managing resources autonomously.
Carlos Moreira, CEO of SEALSQ noted, “The innovative integration of IoP technology into our latest semiconductors represents a significant leap forward for the IoT industry.” “SEALSQ is enabling a future where connected devices are not just smarter but financially empowered, transforming how individuals and businesses interact, communicate and exchange data.”
Mr. Moreira added, “We continue to make substantial investments in next-generation technologies and are well positioned to benefit from the expected demand for post-quantum chips. We are now preparing to release engineering samples of our QS7001 Quantum-Resistant secure chips before the end of the year. SEALSQ’s strong value proposition has been reflected by significant new agreements and partnership signed this year with existing and new clients.”
Next-Generation Semiconductor Features
SEALSQ’s next-generation semiconductors will be equipped with advanced capabilities that address the growing demands of IoP applications, including:
- Secure, Autonomous Transactions: SEALSQ’s embedded secure payment modules ensure that IoT devices can conduct transactions safely and autonomously, mitigating risks associated with data breaches and fraud.
- Real-Time Transaction Processing: With cutting-edge microprocessor designs, SEALSQ chips enable real-time, seamless communication between devices and financial institutions, ensuring frictionless payment experiences for users.
- Scalability: SEALSQ’s semiconductors are designed to scale across various industries—from automotive to home automation to industrial IoT applications—ensuring that the potential of IoP is realized in a diverse range of use cases.
- Energy-Efficient Payment Modules: Low-power consumption features make SEALSQ’s semiconductors ideal for a wide variety of IoT devices, ensuring they can operate autonomously for long periods while still processing transactions.
IoP in Action: From Vision to Reality
The potential applications for SEALSQ’s IoP-enabled semiconductors are vast, spanning multiple industries:
- Automotive: Imagine a car that not only communicates with nearby infrastructure but also autonomously pays for fuel, parking, and tolls. SEALSQ’s IoP integration enables this scenario to become a reality, following in the footsteps of innovations like the Chevrolet-Shell in-dash fuel payment system.
- Home Automation: Connected appliances such as printers, refrigerators, and thermostats can autonomously order and pay for supplies or services. SEALSQ’s secure semiconductor solutions make this possible, with payment systems fully integrated into the devices’ IoT ecosystem.
- Industrial IoT: Autonomous transaction processing becomes essential in sectors where IoT-connected machinery and equipment need to optimize resource allocation, order parts, and pay for services without human intervention.
Market Impact: IoP as the Future of Payments
Industry forecasts reveal the massive potential of IoP and its role in the future of global commerce. By 2025, an estimated 75 billion devices will be interconnected through the IoT. To fully capitalize on this vast network of connected devices, SEALSQ’s IoP capabilities offer an essential solution: secure, real-time transactions between machines.
Further, as global cashless payment volumes are expected to surge by over 80% between 2020 and 2025, SEALSQ’s solutions will be a pivotal driver in this transition, empowering devices to perform financial transactions without human intervention. By 2030, cashless payment volumes are expected to triple, highlighting the importance of SEALSQ’s semiconductor innovations in the world’s rapidly evolving payment ecosystem.
About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ’s ability to implement its growth strategies, SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp 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.
Press and Investor Contacts
| SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com |
SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com |
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