- SEALSQ (LAES, Financial) integrates WISeID with Wecan Comply following a 30% stake in Wecan Group.
- Collaboration aims to reduce compliance costs by at least 30% for financial institutions.
- The integration boosts the utility of the Wecan Token, positioning it as a global standard for digital identity.
SEALSQ Corp (NASDAQ: LAES) has announced a major technological integration that follows its strategic acquisition of a 30% equity stake in Wecan Group. The integration combines SEALSQ's parent company WISeKey's digital identity platform, WISeID, with Wecan Group's decentralized compliance solution, Wecan Comply. This collaboration intends to significantly reduce compliance costs for financial institutions, which can soar to as much as $3,500 per customer.
The enhanced solution, which leverages blockchain traceability, hardware-secured identity, and mutualized compliance records, promises to cut compliance costs by at least 30% while accelerating onboarding processes. The integration also positions the Wecan Token, with a capped supply of 6 billion tokens, as the driving mechanism for accessing WISeID Verified Identities, expanding its utility as a new global standard for transactional digital identity.
"The integration between WISeID and Wecan Comply positions the Wecan Token as the new global standard for transactional digital identity," stated Carlos Moreira, CEO of SEALSQ. This move not only strengthens identity verification standards but also offers a compelling financial case for institutions adopting this innovative compliance system.
SEALSQ continues to lead in the field of quantum-resistant technology with this strategic advancement, which is expected to usher in a new era of secure digital identity services in an increasingly AI-driven world.
