Subscribe
April 20, 2026
Sign In

Capitalizations Index – B ∞/21M

Menu
Breaking
Bitcoin’s Role in Promoting Long-Term Saving Behavior Bitcoin’s Decentralization: Key to Its Strong Attack Resilience Understanding Bitcoin Ordinals: Data Inscription on Bitcoin Understanding Bitcoin Addresses: Key to Receiving Bitcoin Bitcoin Mining Pools: Collaborating to Accelerate Block Discovery

WISeCoin from WISeKey Raises $7M in Pre-Security Token Offering Round

Wisecoin from wisekey raises $7m in pre-security token offering round

WISeCoin from WISeKey Raises $7M in Pre-Security Token Offering Round

Wisecoin from wisekey raises $7m in pre-security token offering round

WISeCoin, the distributed ledger technology (DLT) project of WISeKey, a Swiss-based cybersecurity firm that claims to be focused on protecting connected cars against cyber-attacks, has successfully raised $7 million through its pre-security token offering (STO) round, according to a press release on April 11, 2019.

WISeCoin Aiming for the Moon

As stated in a press release by WISeCoin’s parent firm, WISeKey, the pre-STO round of the former has been hugely successful, generating a whopping $7 million from investors. Following the success of the pre-STO, the WISeCoin team says it’s looking to launch the main STO event before the end of Q2 2019.

WISeCoin has also stated explicitly that the security tokens its offering investors is quite different from that of its parent firm, WISekey.

WISeCoin says it is focused on raising CHF 17,587,527 to develop its blockchain solutions, but the firm has made it clear that the amount may be increased or decreased before the official launch date of its STO.

Securing the DLT and IoT Ecosystem

Established in August 2018 by WISeKey, WISeCoin claims that its primary objective is to safeguard the blockchain and Internet of Things (IoT) ecosystem from cyber threats.

WISeCoin claims it’s determined to revolutionize the digital identification ecosystem by merging a host of proprietary technologies with IoT, blockchain and AI.

To achieve its goal, WISeCoin says it will develop a blockchain system that would store the identities of objects and people, making it possible for connected objects to identify, authenticate and verify each other through a digital certificate.

The press release writes:

“The Blockchain of Identity will verify the validity of all the digital certificates to secure the interactions and to compensate for the use of the platform, a micro transaction fee is charged through the WISeCoin utility token,”

Explaining further, Carlos Moreira, CEO of WISeKey stated that the platform uses a wide-range of blockchain-powered microchips to provide users with a customizable identification system.

Security Token Offerings Slowly Gaining Traction

Since initial coin offerings (ICOs) have now become quite controversial, due to the regulatory uncertainties that come with it, a good number of firms now see STOs as a more viable fundraising option even though it is yet to be embraced by financial regulators in some jurisdictions.

Earlier in March 2019, BTCManager informed that the Taiwan Financial Supervisory Commission (FSC) had announced plans to launch a platform that would facilitate STO-based fundraisers shortly.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Published at Fri, 12 Apr 2019 15:10:22 +0000

Previous Article

Bitcoin Holding $4,600 Could See Bears Finally Bite The Dust

 Next Article

Whether It’s an ICO or an IEO, Regulatory Compliance Is Still an Issue

You might be interested in …

Palestine May Launch Its Own Cryptocurrency as Sovereign Legal Tender

Palestine Plans Cryptocurrency as Sovereign Legal Tender

Palestinian officials are planning for the region of Palestine to receive its own digital currency within the next five years. The motivation for this stems from concerns about potential Israeli interference, Azzam Shawwa, Governor of the Palestinian Monetary Authority (PMA), told the news agency Reuters.

Palestinians have no sovereign currency of their own and use a combination of different currencies, including the euro, the dollar, the Jordanian dinar and the Israeli shekel, to conduct their daily financial transactions.

Due to the lack of a sovereign currency, Palestinian officials have little control over money supply and inflation. This is why the Palestinian Monetary Authority wants to introduce a bitcoin-like digital currency as the territory’s new legal tender, which will be called “the Palestinian Pound,” according to Shawwa.

It is the Palestinian Monetary Authority’s goal to become a fully-fledged and internationally recognized central bank for an independent Palestine. However, it is still unclear how a digital sovereign currency for Palestinians would sit with the 1994 Paris Protocol agreement. The protocol agreement gives the Palestinian Monetary Authority the functions of a central bank; however, it has not granted the institutions the right to issue its own currency. The Paris protocol recommends the use of the shekel in the region and, thereby, effectively provides Israel with a veto over the establishment of a Palestinian currency.

A sovereign digital currency, though, would make sense for Palestine. Not only would it allow the PMA to have more control over the country’s money supply and inflation, but it would also circumvent the practical challenges of delivering hard currency into the country as the PMA has no money-printing facilities.

“If we print currency, to get it into the country you would always need clearance from the Israelis and that could be an obstacle. So that is why we don’t want to go into it,” Shawwa explained to Reuters.  

While the digital Palestinian pound is planned to be issued within the next five years, this will be no easy task for Palestinian authorities, given that the Palestinian Monetary Authority has been trying for over a decade to become an internationally recognized central bank.

Another option for the Palestinian monetary situation would be to keep the current status quo of the four above-mentioned currencies in use or to officially recognize one of the these currencies as the territory’s legal tender. However, a digital sovereign currency would be the preferred choice for Palestine, according to Shawwa.

The post Palestine May Launch Its Own Cryptocurrency as Sovereign Legal Tender appeared first on Bitcoin Magazine.

Robinhood crypto review | how does this exchange compare?

Robinhood Crypto Review | How Does This Exchange Compare?

Robinhood Crypto Review | How Does This Exchange Compare? Robinhood Exchange Key Information Robinhood (Traditional) gained immense popularity due to its buttery smooth interface and fee-free trading options. Now that the platform has launched a […]

Close Menu