Licel Corporation Launches DexProtector Crypto Module Security Platform for Mobile Payment and Wallet Applications

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Aug 15, 2017, 08:30 ET

LOS ANGELES, Aug. 15, 2017 /PRNewswire/ -- Licel (https://licelus.com) Corporation, the technology leader in the Android Security and Java Card fields, announces the launch of the DexProtector (https://dexprotector.com) Crypto Module. Oriented to the market of mobile payment and wallet applications, financial technology companies creating Android applications can quickly immunize them with the DexProtector Crypto Module to deliver unbreakable security crucial to pass certification from the world's major financial services corporations.

To confirm a transaction in payment card systems, secret keys are used, which are stored either on magnetic stripes or chips. In order to steal them, a special hardware is needed and such attacks are hard to implement on a large scale. However, on mobile wallets and payment applications, secret keys are vulnerable to numerous threats.

One threat is a customer's device becoming infected with malware. Secret keys can be stolen easily from an unprotected application, potentially affecting millions of devices. Secret keys and user's credentials can be compromised, resulting in billions of fraud payments. For cryptocurrency wallets, having a private key means that all the funds in the wallet are available to a potential attacker.

Licel created the DexProtector Crypto Module to protect secret keys from being stolen. It combines the standards of the world's major payments systems on securing payments and wallets with the cutting-edge techniques and technologies, including:

Secure Execution Environment (SEE)
WhiteBox Crypto, Crypto Chains, Crypto Boxes, Dynamically Calculated Keys
Active Runtime Application Self-Protection

When DexProtector Crypto Module is used, all the crypto operations and transaction confirmations are made inside of the SEE and secret keys cannot be compromised.

Almost all payment systems require a mandatory certification of mobile applications, which allow a user to perform transactions. DexProtector Crypto Module is embedded into your application with no modifications in the source code – zero-cost integration, automatically performed on the protection stage. This allows its users to deliver the application to evaluators or certification laboratories in a very short term, minimizing financial expenses and accelerating the release of the final product.

DexProtector Crypto Module has implementations for all the algorithms required for cryptocurrency wallets like Bitcoin, Ethereum, Bitcoin Cash, Lite Coin, Dash, Monero, ZCash, and others, thus can be easily used for its protection.

DexProtector Crypto Module provides a trusted solution to protect mobile applications in terms of financial transactions' and users' credential security. This solution is already used in the largest multinational payment services corporations and financial technology start-ups.

Press contact:
Ivan Kinash
+1.650.488.8366
[email protected]

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SOURCE Licel Corporation