SEALSQ advances post-quantum cryptography to address bitcoin security

GENEVA - SEALSQ Corp (NASDAQ:LAES), a $476 million market cap semiconductor and security technology company with $11 million in trailing revenue, announced new advancements in post-quantum cryptography (PQC) aimed at protecting Bitcoin and blockchain networks from quantum computing threats, according to a company press release. According to InvestingPro analysis, the company currently trades above its Fair Value, though it maintains a strong liquidity position with a current ratio of 6.0.

The semiconductor and security technology firm is developing quantum-resistant hardware and software through its QUASARS project to safeguard critical infrastructures including IoT devices, secure communications, and blockchain protocols.

Industry analyses suggest quantum computing is approaching the capability to break elliptic curve cryptography (ECC) that underpins major cryptocurrencies. Cybersecurity researchers indicate approximately 25% of Bitcoin’s usable supply, over 4 million BTC, is stored in addresses with exposed public keys that could become vulnerable.

BlackRock has acknowledged this concern by listing quantum computing as a material threat in its Bitcoin ETF filings.

SEALSQ’s PQC-enabled microcontrollers and secure elements are designed to protect against quantum decryption attacks and enable hybrid cryptographic architectures combining classical and quantum-resistant algorithms.

"The threats are not on the horizon, they are here," said Carlos Moreira, CEO of SEALSQ, in the statement.

The company’s technology focuses on developing semiconductors with quantum-resistant cryptography for applications including multi-factor authentication tokens, smart energy systems, healthcare systems, and IT network infrastructure.

SEALSQ’s efforts aim to ensure critical systems remain resilient as quantum computing advances, according to the press release. With analysts forecasting 29% revenue growth and multiple growth catalysts ahead, investors can access detailed financial analysis, 12 additional ProTips, and comprehensive valuation metrics through InvestingPro’s exclusive research report on SEALSQ.

In other recent news, SEALSQ Corp announced the expansion of its security capabilities for the Internet of Medical Things, focusing on protecting communications and authenticating devices. The company is integrating NIST-recommended algorithms to guard against quantum computing threats, enhancing security for interconnected medical devices. In a strategic move, SEALSQ has invested $10 million in WISeSat.Space AG to accelerate the deployment of a quantum-ready satellite constellation, acquiring a 9% equity stake. This investment aligns with SEALSQ’s goal of building a quantum-resilient satellite network for secure communications and IoT services.

SEALSQ also announced a collaboration with ColibriTD and Xdigit to address IR Drop issues in sub-7nm semiconductor nodes, aiming to improve wafer yields and reduce production costs. The joint effort leverages quantum computing to solve power distribution challenges in advanced semiconductor manufacturing. Additionally, SEALSQ has renewed its ISO 9001:2015 and ISO 14001:2015 certifications with zero non-conformities, demonstrating its commitment to quality and environmental responsibility.

In another development, SEALSQ will provide 30 million digital certificates for smart meters in the Asia Pacific region through a partnership with Landis+Gyr. This deployment will utilize SEALSQ’s Public Key Infrastructure tool, INeS, to secure smart meter networks. These recent developments highlight SEALSQ’s ongoing efforts to enhance security and efficiency across various sectors.

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