A subsidiary of Swiss cybersecurity and blockchain firm WISeKey has raised $7 million in an pre-funding round prior to launching a security token offering (STO), the company confirmed in a press release on April 11. WISeCoin, which came into being in August last year, plans to conduct the STO in Q2. Responsible for managing all of WISeKey’s blockchain initiatives and operations, the vertically-integrated platform intends to raise a total of 17,587,527 Swiss francs ($17,563,695) to expand its activities. These include the use of various disruptive technologies, specifically focusing on the Internet of Things (IoT) given WISeKey’s major presence as a …

Switzerland-based blockchain and cybersecurity firm WISeKey has launched a new blockchain-powered digital identity solution to protect Internet of Things (IoT) devices and their data. The news was announced in a WISeKey press release on March 29. WISeKey focuses on secure authentication and identification solutions for people and smart objects by implementing a cryptographic tool called Root of Trust (RoT). WISeKey IoT claims to have an install base of over 1.5 billion secure microchips across “virtually all IoT sectors” — from connected carts and smart cities to drones and crypto tokens. RoT, the press release claims, is currently embedded in 4 …