SEALSQ announces quantum-resistant security module upgrade

GENEVA - SEALSQ Corp (NASDAQ: LAES), a semiconductor and post-quantum technology firm with a market capitalization of $262.1 million, announced today that its QVault Trusted Platform Module (TPM) now fully complies with the latest security standards ML-DSA-87 and ML-KEM-1024. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 6.0, providing stability for its technological initiatives. These standards are part of the National Institute of Standards and Technology (NIST) post-quantum cryptographic suite, offering robust protection against both classical and quantum computer attacks.

QVault TPM, designed to meet the highest security demands of defense, IoT, automotive, and telecommunications sectors, now integrates the CRYSTALS-Dilithium and CRYSTALS-Kyber algorithms. These algorithms, standardized by NIST in August 2024, are based on the hardness of module lattice problems, which are considered resistant to quantum decryption methods.

SEALSQ’s product enhancement comes as industry and government entities prepare for the advent of quantum computing, which poses a significant threat to current cryptographic standards. The integration of ML-DSA-87 and ML-KEM-1024 into the QVault TPM signifies a critical advancement in securing data against future quantum threats. These algorithms offer a level of security equivalent to AES-256, the highest among NIST’s post-quantum cryptography signature schemes, making them suitable for high-stakes applications where data integrity and confidentiality are paramount.

The QVault TPM provides a hardware-based, tamper-resistant environment for cryptographic operations and is certified to FIPS 140-2/3 and Common Criteria EAL5+ standards. It is designed to support a range of applications, including secure firmware signing for defense systems, quantum-safe authentication for IoT devices, and secure communications for automotive applications. With annual revenue of $10.98 million, SEALSQ is actively expanding its market presence. InvestingPro analysts have set a target price of $6, suggesting potential upside from current levels. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

SEALSQ’s commitment to quantum-resistant solutions is evident in its partnerships with companies like Parrot and AgEagle for drone security and WISeSat for satellite IoT connectivity. While the company’s stock has shown significant volatility, with a 550% gain over the past six months, InvestingPro data indicates the company is focusing on growth despite current unprofitability. The company’s CTO, Jean-Pierre Enguent, emphasized that SEALSQ’s integration of the most advanced post-quantum algorithms into its TPM sets a new benchmark for security in the industry.

This announcement is based on a press release statement from SEALSQ Corp.

In other recent news, SEALSQ Corp has announced a $20 million public offering, selling 10 million ordinary shares at $2.00 each. This capital will support strategic investments, including the acquisition of IC ALPS and the deployment of next-generation post-quantum semiconductor technology in the U.S. The company has also made significant advancements in drone and satellite cybersecurity, partnering with Parrot and AgEagle Aerial Systems to enhance the security of unmanned aerial vehicles. Additionally, SEALSQ is expanding its digital identity capabilities through a strategic investment in Wecan Group, enhancing compliance technologies with blockchain integration.

The company has entered a strategic partnership with Thomson Quantum AI to integrate its Post-Quantum Cryptography into Thomson’s hardware products. This collaboration aims to prepare devices for future quantum computer attacks, with SEALSQ’s technology being integrated into 60,000 Thomson devices. In a move to bolster its North American expansion, SEALSQ appointed Loïc Hamon as Chief Operating Officer. Hamon’s experience in technology leadership is expected to drive the adoption of SEALSQ’s security technologies in the region. These developments underscore SEALSQ’s commitment to advancing its security solutions and expanding its market presence in the face of evolving technological challenges.

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