Trezor today announced that it would take over the production of the chip wrapper, a crucial component of its flagship product, the Trezor Model T, to fastrack its production.
Trezor, a hardware wallet maker, intends to speed up the production of new wallets by manufacturing wallet silicon chips. The initiative aims to greatly improve Trezor wallet production by lowering supply chain lead times from two years to a few months.
Trezor claims that by cutting away third parties from its intricate manufacturing supply chain, the action optimizes the production of its Model T device. The optimization, according to Trezor, will eliminate delays in delivering finished goods. Therefore, price changes caused by the availability and demand for specific components will not influence customers.
Following the FTX collapse in November 2022, cryptocurrency investors rushed to move their money away from centralized crypto exchanges. As a result, demand for Trezor wallets skyrocketed, with sales soaring by at least 300%.
Trezor CFO Stepan Uherik stated:
“The twists and turns in demand for hardware wallets and the silicon supply chain disruption that we’ve seen over the past few years was a problem that we needed to solve.”
According to Uherik, they achieved maximum agility in their production by streamlining the process, pinpointing areas where they could exercise more authority, and collaborating with their partners in innovative ways.
Uherik emphasized that this approach enables them to swiftly respond as the cryptocurrency market starts to exhibit signs of progress. Also, it affords the firm greater flexibility in designing future products, ensuring their continued dominance in the fiercely competitive hardware wallet industry.
The announcement comes a year after Tropic Square, a startup owned by Satoshi Labs, the organization behind Trezor, unveiled the TROPIC01, an open-source chip. With digital identification techniques, this chip enables the generation of cryptographic keys, encryption, digital signatures, and user authentication.
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
