Swiss cybersecurity and IoT solutions company WISeKey has introduced WISeCoin Wallet – a contactless hardware enabled wallet designed to offer security and ease of use for cryptocurrency users.

The company said that it aims the wallet to become an emerging powerhouse in the global cryptocurrency market by supporting the development of economies built on blockchain technology. WISeCoin Wallet has been designed to provide users with contactless access to their private key and allows them to make contactless transactions and payments.

“Through the WISeCoin Wallet, hardware wallets have now become contactless and users can establish multiple private keys into the secure store using the same WISeWallet App and access these private keys while making transactions in contactless mode,” WISeKey said.

WISeCoin is now available through the WISeWallet App, which is compatible with most of the existing blockchain technologies and works as part of payment system using WISeKey Blockchain-as-a-Service (BaaS) technology offerings. It is also supplemented with additional highly secured WISeWallet solutions (biometrics enabled variants also available), integrated exchange platforms, NFC-based contactless payment solutions, etc.

WISeKey said that it will release an embedded WISeWallet in the second phase. It will be an advanced hardware wallet equipped with its own security hardened operating system and with wireless functionality, able to connect with smart phones of any type, as well as desktops/laptops/iPads through Bluetooth and Wifi.

In order to ensure proper recovery in case the hardware storage is lost, broken or stolen, WISeKey said that a backup copy of all private keys is stored in the military grade bunkers in the Swiss Alps with proper Hardware Security Module (HSM) and sophisticated recovery mechanisms are in place for a reliable and consistent Wallet solution.