Wecan Group, a Geneva-based startup specialising in compliance options for personal banks and monetary establishments, right this moment introduced that SEALSQ Corp (SEALSQ), a post-quantum cybersecurity firm, has acquired a majority fairness stake in it.
This follows an preliminary 28% funding made one 12 months in the past. As a part of this strategic transaction, SEALSQ will make investments €5.4 million (CHF 5 million) to speed up Wecan Group’s growth and assist the deployment of next-generation Compliance Co-pilote and post-quantum monetary safety options for the worldwide monetary trade.
Vincent Pignon, founder and CEO of Wecan Group, commented, “Wecan Group was created to assist monetary establishments handle belief, compliance and delicate shopper info extra effectively. With SEALSQ as a majority shareholder and strategic expertise associate, we’re getting into a brand new part of progress. This funding will enable us to speed up the deployment of our Compliance Copilote and strengthen our infrastructure with post-quantum safety capabilities, offering banks and monetary establishments with future-ready options for shopper lifecycle.”
Based in 2015 by Dr. Vincent Pignon, Wecan Group’s mission is to assist monetary establishments securely optimise the administration of their compliance processes. The corporate states that its platform is an answer for orchestrating onboarding, change-of-circumstance and periodic-review processes for the top shoppers of regulated establishments, be it people, corporations, trusts or others.
The corporate presents merchandise designed to onboard shoppers digitally, handle KYC and AML evaluation, account openings, contract technology and periodic critiques, all whereas guaranteeing regulatory compliance with full auditability. Its notable shoppers embody Pictet, Lombard Odier, Edmond de Rothschild, Syz and Barclays, amongst others
SEALSQ specialises in post-quantum expertise {hardware} and software program options. The corporate states that its expertise integrates semiconductors, PKI (Public Key Infrastructure), and provisioning companies, with a strategic concentrate on creating quantum-resistant cryptography and semiconductors to handle the pressing safety challenges posed by quantum computing. As quantum computer systems advance, conventional cryptographic strategies reminiscent of RSA and Elliptic Curve Cryptography (ECC) are more and more susceptible.
The corporate claims to be pioneering the event of post-quantum semiconductors that present sturdy, future-proof safety for delicate knowledge throughout a variety of purposes, together with multi-factor authentication tokens, good vitality, medical and healthcare techniques, defence, IT community infrastructure, automotive, and industrial automation and management techniques.
By embedding Put up-Quantum Cryptography into its semiconductor options, SEALSQ ensures that organisations keep protected in opposition to quantum threats.
Carlos Moreira, CEO of SEALSQ, stated, “Our majority funding in Wecan Group represents a major step in SEALSQ’s technique to convey post-quantum safety to essentially the most delicate sectors of the worldwide economic system. Monetary establishments and digital asset platforms are getting into a brand new period wherein cybersecurity, compliance automation, digital id and trusted AI should converge. On the similar time, cryptocurrencies and blockchain infrastructures should evolve towards quantum resilience to protect long-term belief and safety.
“By combining SEALSQ’s post-quantum applied sciences, Wecan Group’s experience in non-public banking compliance infrastructure and WISeKey’s trusted digital id ecosystem, we intention to ship a safe and scalable belief platform for the monetary trade and the digital asset economic system worldwide.”
By this majority participation, Wecan Group and SEALSQ intend to speed up the implementation of an AI-powered Compliance Copilote, constructed on a safe post-quantum infrastructure.
The platform will combine superior Put up-Quantum Cryptography (PQC) applied sciences, quantum-resistant {Hardware} Safety Modules (HSMs), safe digital id frameworks and blockchain-based belief mechanisms designed to guard delicate monetary knowledge in opposition to future quantum computing threats.
Based on each corporations, the objective is to offer monetary establishments, wealth managers and FinTech with a trusted platform able to optimising the processing of delicate shopper info throughout your entire shopper lifecycle, from onboarding to periodic critiques, transaction monitoring, anti-money laundering (AML), know-your-customer (KYC) compliance and safe digital asset administration.
The initiative goals to additional assist the event of trusted AI governance and explainable compliance algorithms for regulated monetary establishments, confidential AI and encrypted knowledge processing leveraging homomorphic encryption and safe semiconductors, and quantum-resilient digital id techniques for institutional and retail monetary ecosystems.
