SEALCOIN AG Confirms FINMA (Swiss Regulator) Classification and Licensing Clarification for its Hybrid Transactional Internet of Things TIOT Token
WISeKey International Holding AG - American Depositary Shares (WKEY)
Company Research
Source: GlobeNewswire
SEALCOIN AG Confirms FINMA (Swiss Regulator) Classification and Licensing Clarification for its Hybrid Transactional Internet of Things TIOT Token Zug, Switzerland – November 18, 2024 – WISeKey International Holding Ltd. (“WISeKey” or the “Company”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations operating as a holding company, via its subsidiary SEALCOIN AG, is pleased to confirm that, in line with its interpretation of ICO guidelines published by the Swiss Financial Market Authority (“FINMA”), the SEALCOIN transactional-IoT (“TIOT”) token is classified as a hybrid token with both utility and payment functionalities, consistent with its description in the SEALCOIN whitepaper. This classification reflects the dual-purpose of the SEALCOIN TIOT token, which is designed to facilitate secure IoT transactions and enable decentralized payments, and will be issued following the go-live of SEALCOIN platform. Addition
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