SEALSQ (LAES) made an undisclosed investment in the Wecan Token to support secure and decentralized digital identity solutions.
The investment marks a milestone in processes used by financial institutions and businesses to verify the identity of their customers using blockchain-based technologies, SEALSQ said Tuesday in a statement.
The Wecan Token, originally developed to support decentralized compliance through Wecan Comply, is positioned as a central component in SEALSQ's authentication network, according to the statement.
SEALSQ plans to create a dedicated reserve of Wecan Tokens to support its system and integrations.
SEALSQ shares rose 9.2% in recent trading Tuesday.
Price: 3.80, Change: +0.32, Percent Change: +9.20
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