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GENEVA - SEALSQ Corp (NASDAQ: LAES), trading at $2.68 and showing remarkable momentum with a 458% surge over the past six months, announced the release of its QS7001 Post-Quantum Secure Chip, aimed at defending cryptocurrency wallets from quantum computing threats. According to InvestingPro data, the company, valued at $284 million, operates with moderate debt levels while maintaining strong liquidity. This new hardware solution is designed to provide long-term security for digital assets by utilizing quantum-resistant cryptographic algorithms.
Cryptocurrencies, which rely on public and private key pairs for security, face potential risks from quantum computing advancements that could break current encryption standards. SEALSQ’s chip addresses concerns that even offline wallets may be vulnerable once a transaction reveals the public key on the blockchain.
The QS7001 chip features quantum-resistant public-key cryptography, tamper-resistant hardware, and enhanced blockchain security to prevent unauthorized transactions and potential consensus mechanism disruptions. It is intended for integration into hardware wallets, cryptocurrency exchanges, and financial institutions, facilitating a seamless transition to quantum-safe security.
With the risk of adversaries collecting encrypted data now to decrypt later when quantum computers are more advanced, SEALSQ emphasizes the importance of adopting quantum-resistant measures promptly. Carlos Moreira, CEO of SEALSQ, urges wallet providers, exchanges, and blockchain networks to start integrating these security measures to safeguard digital assets for the future. The company’s current ratio of 3.58 indicates strong short-term financial stability, though InvestingPro analysis suggests the stock is trading above its Fair Value.
SEALSQ is collaborating with industry players to implement this encryption across digital asset ecosystems and will showcase its technology at upcoming industry events to encourage early adoption.
The company is recognized for its innovation in post-quantum technology hardware and software solutions, focusing on quantum-resistant cryptography to protect against emerging quantum threats. SEALSQ’s products are designed to enhance security across various industries, including healthcare, defense, and industrial automation. While the company reported negative EBITDA of -$12.18 million in the last twelve months, InvestingPro subscribers can access 12 additional key insights about SEALSQ’s financial health and growth prospects. Check out the Most Overvalued Stocks list for more market analysis.
This announcement is based on a press release statement from SEALSQ Corp. It is important to note that forward-looking statements within the press release are subject to risks and uncertainties, and actual results may differ materially from those projected. SEALSQ does not commit to updating any forward-looking statements as new information arises.
In other recent news, SEALSQ Corp has announced its intention to release its audited financial results for 2024 by March 21, 2025, highlighting significant progress, including the elimination of all convertible debt and warrants. The company has entered into exclusive negotiations to acquire IC ALPS SAS, a French ASIC design firm, pending due diligence and regulatory approval, aiming to enhance its ASIC development capabilities and add approximately 100 skilled employees. SEALSQ has also collaborated with WISeSat to deploy satellites equipped with advanced post-quantum-ready security chips, with the first launch scheduled for June 2025, in a bid to enhance global IoT connectivity and cyber resilience. Additionally, SEALSQ is implementing its Post-Quantum Cryptography across data centers in Switzerland and France to bolster the security of digital assets against quantum threats. The company has launched the SEAL Quantum Roadmap, with plans to roll out its Quantum-as-a-Service platform in 2025. SEALSQ’s efforts to advance quantum-resistant security for AI and IoT are underscored by its collaboration with WISeSat.Space to develop a satellite-IoT connectivity ecosystem. With a cash reserve of $85 million at year-end and a $5 million investment in research and development in 2024, SEALSQ is positioned for innovation and global expansion.
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