Trezor takes control of its silicon chip supply chain
February 28, 2023
3 min read
New chip wrapper, produced by Trezor, improves device security and significantly shortens lead times for mass production
Trezor, the original bitcoin hardware wallet company by SatoshiLabs Group, has taken control of its silicon chip production by facilitating the manufacture of its own key component, the chip wrapper, in its flagship product, Trezor Model T.
The move dramatically optimizes device production by eliminating the reliance on third parties in the highly complex chip manufacturing supply chain.
Prior to taking control of this process, the global chip shortage has meant that Trezor, like most electronic device manufacturers, has been exposed to fluctuations in component availability that in turn is sensitive to a variety of factors including geopolitical disruption, labor shortages due to Covid 19 and even droughts that limit the supply of the pure water required in the manufacturing process.
Demand planning is also highly complex. Spikes occur in response to bear-to-bull market fluctuations. They have also followed the consumer interest in cryptocurrency self custody, a demand that was sparked by the high profile implosion of centralized exchanges like Celsius, FTX and BlockFi in Q3 2022. During the same period Trezor saw a 300 per cent increase in sales of its hardware wallets for example.
Whilst the same level of security is achieved by Trezor taking control of the wrapping process, the company has reduced lead times in the supply cycle from two years to several months. This is turn eliminates delays in shipping finished products and protects the consumer from exposure to price fluctuations based on component supply and demand.
”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. By unpacking the process, identifying areas where we could take control, and collaborating with our partner STMicroelectronics in new ways, we’ve managed to make the manufacturing as agile as it can be. This means we can respond quickly as the crypto currency market shows signs of recovery. It also adds more design freedom for future products, helping us to sustain our leadership in the increasingly competitive hardware wallet space.”
Štěpán Uherik, Chief Financial Officer at SatoshiLabs and Trezor
Last year, Tropic Square, a company also from the SatoshiLabs stable, launched TROPIC01, a secure open source chip that provides cryptographic key generation, encryption, signing, and authenticating users through digital identification methods.
"The chosen business model is very unique and can be applied in exceptional cases. Firstly, as a manufacturer, we require high minimum order quantities, and secondly, the customer must have specific know-how to encapsulate semiconductor components. We are very happy that there is a company like Trezor in the Czech Republic, with which we were able to successfully implement this project."
Tomáš Pokorný, Sales Manager at STMicroelectronics.
Premium device combines color touchscreen with haptic feedback, EAL 6+ Secure Element, and enhanced backup processes
Trezor Safe 5
Trezor, the original bitcoin hardware wallet company, today introduces the Trezor Safe 5, which brings everyday convenience to securely storing, managing and buying cryptocurrencies in a cold-storage wallet. Drawing on more than ten years’ experience of open source security, the Trezor Safe 5 packs an array of powerful attributes that support active, regular management of crypto assets, while maintaining Trezor’s commitment to exceptional levels of usability and security:
Color touchscreen and Trezor Touch haptic engine for a richer interactive experience
NDA-Free, EAL 6+ certified, Secure Element designed to protect sensitive information and perform cryptographic operations
An enhanced, more robust, 20-word backup process offers a seamless upgrade from a standard Single-share Backup to an Advanced Multi-share Backup
All Gorilla-Glass surface protects device from scratches and damage
With a vibrant color touchscreen, the Trezor Safe 5 delivers a visually engaging interface. Its large screen gives users additional reassurance about the transactions they’re processing. The Trezor Touch haptic engine enriches interactions to deliver an experience so intuitive users can feel it.
As with all Trezor hardware, the Trezor Safe 5 is designed on open source security principles, enabling the Trezor community to verify the technology and giving them confidence in the integrity of the wallet. The device’s Secure Element has EAL 6+ certification, confirming that the chip has undergone extensive testing and can withstand sophisticated attacks. The absence of non-disclosure agreements (NDAs) covering use of the Secure Element in the device provides a transparent foundation for security to further enhance protection.
The new, enhanced backup standard, which now uses 20 words, improves the user-friendliness of the backup and recovery process. The upgraded wordlist contains carefully selected words that are easily distinguishable from each other.
Most importantly, with the enhanced backup users can seamlessly upgrade from a standard Single-share Backup to an Advanced Multi-share Backup, offering superior security with no single point of failure. The backup is created using Shamir's secret sharing to split the master secret key into multiple unique shares. Users can decide how many unique shares the advanced backup consists of and how many are needed to restore the wallet. Even if some shares are lost, users can still access their crypto.
To protect wallet backup phrases from fire, water and physical damage, Trezor will also offer a 20-word version of its Trezor Keep Metal solution for USD 99 at the beginning of July.
The Trezor Safe 5 will still support other legacy backup processes if users prefer those options, and earlier standards are still functional when recovering from older models.
The high-performance specifications of the wallet are matched in its sleek, appealing design. Available in Black Graphite, Violet Ore and Green Beryl, the device is encased in damage-proof Gorilla Glass, providing durability along with a refined look and feel.
Supporting a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and thousands more, Trezor Safe 5’s extensive compatibility ensures that users can securely store, manage, stake, and use their crypto all in one place via the Trezor Suite desktop and the accompanying mobile app to monitor crypto from a mobile phone on the go. Additionally, users can draw on Trezor’s extensive network of third-party services, empowering them to fully customize their crypto experience according to their unique needs.
Trezor Safe 5 extends the Trezor Safe product family following the launch of the Trezor Safe 3 – an easy-to-use, secure hardware wallet for crypto novices – in October 2023.
Special devices just for bitcoiners
For Bitcoin devotees, Trezor is also introducing a new Bitcoin-only option that removes non-bitcoin related features and code, ensuring a smooth and optimized bitcoin-only experience. After a limited run of Bitcoin-only Trezor Safe 3s sold out in a matter of hours at launch, Trezor will now offer an unlimited edition of the Bitcoin-only Trezor Safe 3 and Trezor Safe 5 – both sporting the familiar fiery orange shade – for general sale.
Trezor Safe 5 Bitcoin-only
Matěj Žák, Trezor’s Chief Executive Officer, said: “Understandably, many crypto enthusiasts lack trust in exchanges and are looking for an easy and secure way to interact with their crypto assets. However, with hardware wallets often designed more for ‘hodling’ crypto rather than using crypto on a more regular basis, we saw that there was an opportunity to bring something new to the sector – enter the Trezor Safe 5, the ultimate hardware wallet for crypto users looking for everyday utility along with the highest level of security and effortless usability.”
Matěj Žák launched the Trezor Safe 5 on stage at BTC Prague 2024 where he also introduced new service, Trezor Expert, a service dedicated to building user confidence in self-custody. Trezor Expert specialists provide personalized, one-on-one online onboarding sessions for Trezor customers, helping them to set up their hardware wallets. The service eases customer concerns about making errors and gives them an improved understanding of the security considerations surrounding self-custody.
The Trezor Safe 5 is available for preorder today at a retail price of USD 169. Trezor Safe 5 Bitcoin-only and Black Graphite are also available for preorder with shipping at the beginning of July. Trezor Safe 5 Green Beryl and Violet Ore will be available by mid-August.
Trezor is the original bitcoin hardware wallet company, founded in 2013. It pioneered the development of the self-custody of crypto assets, empowering individuals with an open-source device that enables anyone to easily and securely hold cryptocurrencies.
Trezor has expanded to offer a whole ecosystem of easy-to-use both hardware and software products that help protect users - from crypto novices to crypto experts. In 2023, the company launched its Trezor Academy initiative which educates grassroots communities across the African continent on safe participation in the bitcoin ecosystem. Trezor is part of SatoshiLabs, a technology holding company with various interests in crypto and bitcoin companies.
The hardware wallet company reported a 600% surge in sales following the U.S. elections
Trezor also achieved its highest single sales day in history
Trezor, the original bitcoin hardware wallet company, has reported the most successful sales week in its history. This milestone coincides with Bitcoin's sharp price surge, nearing the $100,000 mark. The beginning of a new bull market, increased interest in cryptocurrency, and a growing shift away from centralized exchanges toward self-custody have significantly driven Trezor’s record-breaking sales.
The historic sales week followed the U.S. presidential election, with Trezor experiencing an extraordinary 600% increase in weekly sales compared to the previous six-month average. This surge peaked on Friday, November 22, when Trezor achieved its best single sales day ever. Sales were 11 times higher than the typical daily average over the last six months, and it eclipsed its previous high on May 17, 2023, when Ledger announced its "Ledger Recovery" service.
Danny Sanders, Trezor's Chief Commercial Officer, commented on the milestone: “These unprecedented results highlight the growing interest in cryptocurrencies. A pivotal moment was Bitcoin becoming one of the topics during the U.S. presidential elections, which served as a catalyst for further adoption. Moreover, these remarkable results were fueled by a long-term increase in awareness among crypto users about the importance of self-custody. The mantra ‘not your keys, not your coins’ remains highly relevant, as the market continues to recognize the risks of leaving assets on centralized exchanges — a hard lesson learned from the collapse of numerous exchanges in the past. All of this underpins the success of our expanded product range with the new Safe and Keep Series and Expert onboarding making it easier for new people to onboard to hardware wallet ”.
The Shift Towards Self-Custody
The shift towards self-custody is evident as Bitcoin reserves on exchanges have declined to their lowest levels in six years. In 2024 alone, approximately 427,000 BTC, valued at $40 billion, were withdrawn from centralized exchanges (source Cryptoquant). High-profile exchange failures, regulatory uncertainty, and increased user education have driven this movement. Self-custody solutions like Trezor ensure users maintain full control of their funds, mitigating the risks associated with third-party custodians.
New Product Line Drives Record Sales
Trezor’s new product families played a key role in achieving these outstanding results. The hardware wallets Trezor Safe 3 and Trezor Safe 5 have attracted significant attention for their user-friendly features, sleek modern design, and robust security backed by Trezor's open-source philosophy. Complementing these wallets, the Trezor Keep Metal — a durable solution for securely safeguarding wallet backups — and Trezor Expert, a personalized 1-to-1 online onboarding service, have seamlessly integrated into Trezor's portfolio. Together, these innovations have made self-custody more accessible to both seasoned crypto enthusiasts and newcomers, empowering more users to take control of their financial future.
Trezor’s commitment to empowering individuals through security, transparency and innovation continues to resonate with a global audience, driving record-breaking growth and positioning the company for continued success as the bull market accelerates.
Trezor is the original bitcoin hardware wallet company, founded in 2013. It pioneered the development of the self-custody of crypto assets, empowering individuals with an open-source device that enables anyone to easily and securely hold cryptocurrencies.
Trezor has expanded to offer a whole ecosystem of easy-to-use both hardware and software products that help protect users - from crypto novices to crypto experts. In 2023, the company launched its Trezor Academy initiative which educates grassroots communities across the African continent on safe participation in the bitcoin ecosystem. Trezor is part of SatoshiLabs, a technology holding company with various interests in crypto and bitcoin companies.
Personalised, one-on-one onboarding sessions provide expert knowledge and reassurance as customers set up crypto cold-storage devices
Trezor, the original bitcoin hardware wallet company, today launches Trezor Expert, a service providing personalised, one-on-one, online onboarding sessions for Trezor customers as they set up their hardware wallets.
Trezor Expert aims to build user confidence as they begin their journey into crypto self-custody, ease customer concerns about making errors, and give them the knowledge to protect their crypto effectively.
Under the service, specialists in hardware wallet security guide users step by step through the set-up process so that the user’s hardware wallet is fully configured by the end of the Trezor Expert session. The specialists provide guidance on best practices and ensure that users understand the basic concepts correctly. The service is available seven days a week, including weekends, and users can book a slot at their convenience, irrespective of where they are in the world.
Participants in Trezor Expert are encouraged to actively engage with the specialists, ask questions and seek clarification in order to fully benefit from the interactive learning experience. Trezor Expert sessions are designed to ensure that only the customer, and no one else, knows the wallet backup and other sensitive information.
Matěj Žák, Trezor’s Chief Executive Officer, said: “For many people, their crypto journeys begin on centralised exchanges before they progress to taking responsibility themselves for storing their crypto on hardware wallets . We’ve seen this play out many times after the collapse of high-profile exchanges when our sales suddenly spike. But newcomers to hardware wallets sometimes lack experience, knowledge and confidence in setting up hardware wallets – turning to social media and internet research to help them through the process. We wanted to give customers access to personalised guidance from a trusted, reputable brand recognised for its commitment to security.”
Žák continued: “Trezor Expert not only helps our customers to set up their hardware wallets correctly, it gives them the opportunity to explore the security considerations of self-custody in more detail as they cover topics such as private key management and safe online practices.”
Trezor Expert is available for purchase on the Trezor e-shop at a price of USD 99. Customers interested in using, or learning more about, Trezor Expert can visit https://trezor.io/trezor-expert-session.
Trezor is the original bitcoin hardware wallet company, founded in 2013. It pioneered the development of the self-custody of crypto assets, empowering individuals with an open-source device that enables anyone to easily and securely hold cryptocurrencies.
Trezor has expanded to offer a whole ecosystem of easy-to-use both hardware and software products that help protect users - from crypto novices to crypto experts. In 2023, the company launched its Trezor Academy initiative which educates grassroots communities across the African continent on safe participation in the bitcoin ecosystem. Trezor is part of SatoshiLabs, a technology holding company with various interests in crypto and bitcoin companies.
Tropic Square, designers of transparent and auditable secure chip solutions, welcomes John Sirianni as Chief Executive Officer (CEO). Sirianni leads the company to scale up as they approach the pre-production tape out of their flagship product, TROPIC01, this year.
With more than two decades in the semiconductor and cybersecurity industries, Sirianni brings his knowledge and expertise to lead Tropic Square to global scale. His previous experience includes embedded systems security consultation, strategic commercialization, and leading international deep-tech scale ups.
John Sirianni shares his vision for the company, stating “The engineering staff has crafted an industry leading open-hardware and auditable security chip, which enables device design teams to verify advanced security functions as they require. Now it’s time to make it generally available for security sensitive device designers. Device developers of AI-IoT edge devices, gaming & A/R devices, autonomous systems, M2M payment systems, advanced hardware authenticators are in need of open, transparent, and auditable cryptographic processing. Security through Transparency is what we are about at our core. ”
This year, Tropic Square is on route for the pre-production of TROPIC01, a transparent and auditable secure cryptographic coprocessor. Under Sirianni’s leadership and guidance, the team is eager to bring their advanced cryptographic coprocessor chip TROPIC01 to the wider market, to address the growing demand for secure hardware devices.
“I’m super excited to have John on board. We have been very product development focused and now it is the time to advance the business side of our operations. I’m looking forward to working with customers from a broader market, and showing them that there is an alternative to security by obscurity. They can have cars now, instead of just faster horses. Offering this chip to the initial customers will also give us valuable feedback, so we can further refine our product to meet market needs” says Jan Pleskac, CTO.
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About Tropic Square
Tropic Square is a private company founded in 2020 as a response to the need for open architecture secure element chips. We develop and produce secure semiconductor device solutions that enable the auditability of its security implementations. Our chips and IP are tested by experts in the open source community and made available for community use. Tropic Square develops and produces auditable chips that meet the high security requirements of our customer’s design teams.
