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Crypto hardware wallet maker Trezor has announced that it will take control of the wallet chip manufacturing process by producing its own silicon chips. The company states that the newly designed “chip packaging” will improve device security and significantly reduce lead times for mass production.
On February 27, 2023, Prague-based cryptocurrency hardware wallet company Trezor announced that it is now in charge of its own silicon chip manufacturing process. According to Trezor CFO Štěpán Uherik, the new “chip wrapper” enables the company to have more design freedom for future products. Last year, Trezor’s parent company Satoshi Labs revealed its support for a startup called Tropic Square to produce an open source silicon chip called “TROPICAL01” for use in crypto hardware wallets.
The new chip manufacturing process significantly improves security by eliminating third-party chip manufacturers and associated vulnerabilities. Trezor also noted that it will significantly reduce lead times by bypassing supply chain issues. In a press release sent to Bitcoin.com News, Uherik further explained that the company is working with Stmicroelectronics, a manufacturer of microcontrollers and semiconductor technologies.
“By unpacking the process, identifying areas where we can take control, and working with our partner [Stmicroelectronics] in new ways,” Uherik said in a statement, “we have managed to make production as flexible as it can be. This means we can react quickly as the cryptocurrency market shows signs of recovery. It also provides more design freedom for future products, helping us maintain our leadership in the increasingly competitive hardware wallet,” Trezor CFO added.
Hardware wallets have seen significant demand since the collapse of FTX, as crypto enthusiasts have transferred billions of dollars worth of crypto assets from centralized trading platforms. In addition, several companies have unveiled new hardware wallet models, such as the Ledger Stax, a device developed by Tony Fadell, creator of the iPod. Furthermore, decentralized exchange aggregation service 1inch Network has launched a hardware wallet, and Coinkite has introduced a new product called Coldcard Q1.
The new chips developed by Trezor will be used in the Trezor Model T hardware wallet. Trezor first announced its Tropic Square project and its intention to take over chip production on May 11, 2020. The Covid-19 pandemic caused supply chain disruptions, particularly in the silicon chip sector. “The demand for hardware wallets and the supply chain disruptions in the silicon industry that we have experienced in recent years have been issues that we had to address,” Uherik stated in the announcement on Monday.
What are your thoughts on Trezor’s decision to manufacture its own silicon chips for its hardware wallets? Do you think this move will improve device safety and lead times for mass production? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, Trezor, Tropic Square,
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