SEALSQ (LAES) said Wednesday it plans to invest $10 million in WISeSat.Space and join WISeKey International (WKEY), WISeSat.Space's parent company, as a strategic investor in the WISeSat satellite constellation.
The investment, pending approval by SEALSQ's board among other conditions, represents a step toward developing a quantum-resilient satellite network designed to provide ultra-secure communications and transactional IoT services from space, according to the company.
The June 2025 mission will feature a proof of concept showcasing WISeKey's blockchain-based platform, SEALCOIN, and its ability to support decentralized, autonomous transactions between satellites and IoT devices, the company said.
Shares of SEALSQ were up more than 2% in recent trading, while WISeKey stock was down more than 5%.
Price: 2.42, Change: +0.05, Percent Change: +2.15
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