Integral Petroleum SA, one of the leading Geneva-based commodities trading and logistics houses, active mainly in the Caspian region, the Caucasus and Central Asia, announced today that it has signed a partnership agreement with WISeKey International Holding Ltd ("WISeKey") (SIX: WIHN), a global cybersecurity, blockchain and IoT company. The deal will use WISeKey’s Cybersecurity Vertical Platform to develop PKI, IoT and blockchain projects within the region.
This collaboration enables financial institutions, corporations, regulators and local governments in the region to use cutting-edge technologies, including enterprise PKI and blockchain solutions from WISeKey and its global network of Trusted Ecosystems partners.
Beyond its energy resources, the Caspian region has economic, cultural and ethnic ties that reach well into Eastern Europe and Asia, making it a real regional hub. Integral Petroleum and WISeKey plan to create a gold-backed Caspian Coin, soon followed by a Compliance Token and a settlement system for computing power, provided on demand as a commodity.
"We are happy to collaborate with Integral Petroleum in developing PKI, IoT and Blockchain solutions for the Caspian Region. Our common goal is to create growth opportunities for start-up companies in the Caspian Region using algorithmically balanced ecosystem of trading and investment platforms," said Carlos Moreno, VP Corporate Alliances and Partnership of WISeKey.
"Integral Petroleum SA is implementing several digital projects, mostly connected to our core business of trading and logistics. We expect that the partnership with WISeKey, a well-established leader of digital innovations, will lead to a successful implementation of these projects," said Murat Seitnepesov, CEO of Integral Petroleum.