Swiss Blockchain Company WISeKey’s WISeCoin Secures $7 Million in Pre-Funding STO Round

In a press statement on the 11th April, WISeKey, a Swiss Cybersecurity subsidiary and blockchain company announced that they had raised 7 million USD in pre-launch funding of their security token offering (STO).

The Crypto asset WiseCoin which was launched in August of 2018, has planned to conduct the STO in the second quarter of the year

Wisecoin's Vision

WiseCoin, which has the responsibility of managing all the blockchain operations and Initiatives of Wisekey

Their plans are underway to raise a total of 17,587,527 Swiss francs (about 17,563,695USD) to widen their activities.

These activities include using disruptive tech, more specifically the internet of Things (IoT), putting Wisekey at the forefront of semiconductor chip manufacturers.

The release stated:

“One of WISeCoin's key (milestones) is to build a Blockchain of Identity to store the identities of objects and people allowing connected objects the ability to identify, authenticate and verify each other with a digital certificate,”

In addition it was stated that:

“For each interaction, the Blockchain of Identity will verify the validity of each digital certificate to secure the interaction and to compensate for the use of the platform, a micro service fee is charged through a utility token, called the WISeCoin token.”

A new digital identity solution was launched by Wisekey in March of 2019.

STO AND ICO

Security token offering (STO), which seemed to have less risk than the unstable initial coin offering (ICO) market, has now got the attention of regulators with Mauritius and Hong Kong recently issuing guidelines.

Although PWC, in a report in March stated that STO and ICO have very few noteworthy differences.