Cryptosat launches its second crypto satellite on SpaceX rocket

abdelaziz Fathi

Cryptosat launched Crypto2, its second cryptographically-equipped satellite module, from Space Florida on January 3 aboard a Falcon 9 rocket bound for SpaceX’s Transport 6 mission.

Cryptosat is on a mission to build a Trusted Execution Environment in the space using satellites that power cryptographic, blockchain, and ledger applications. The company believes that satellites possess unique properties that improve cryptographic security for sensitive operations by isolating computational environments in orbit. And by launching its second satellite, which is no bigger than a coffee mug, it unlocks new and exciting opportunities in the realm of computing.

Crypto2 is equipped with 30x more computational power than its predecessor Crypto1, which launched in May 20200. The satellite proved vital as a tamper-proof platform for securing and launching blockchains and Web3 platforms.

“Falcon 9’s partially reusable launch vehicle, developed by SpaceX, can carry crew and commercial cargo into orbit. On its first flight of 2023, Cryptosat software formed part of the consignment, supporting Cryptosat’s goal of launching a Trusted Execution Environment in space,” the company explains.

Cryptosat, which raised $3 million in seed funding in November, asserts that no third party has interfered with the compute environment prior to its being launched into orbit. Additionally, being hosted over a trusted module in space, the blockchain is away from network intrusion or the reach of hackers who often target earth-based blockchains.

Cryptosat Co-Founder Yonatan Winetraub said: “The launch of Crypto2 is a milestone toward infrastructure expansion from a single satellite in 2022. The launch of Crypto2 gives us more availability and more powerful spec to support the growing portfolio of use cases in our development pipeline.”

The milestone comes shortly after the first version of Cryptosat’s Cryptosim Software has been made available. In December, Cryptosat released an API tutorial with a satellite trajectory simulation. Combining that with an application programming interface gives software developers the opportunity to interact with the software that will be running on Cryptosat’s low earth orbit satellites.

To reduce the learning curve, Cryptosim plans to guide developers step-by-step through the process of communicating with software that has been put on the satellite.

Read this next

Retail FX

Belgium regulator blacklists FXP360, Appex Finance, and Wise-Markets

Belgium’s financial watchdog, the Financial Services and Markets Authority ‎‎(FSMA), has issued a warning against the unauthorized activities of multiple ‎ platforms that are offering investments in the country without ‎complying with Belgian financial legislation.‎

Digital Assets

MicroStrategy piles on Bitcoin, acquiring 0.90% of circulating supply

MicroStrategy, the world’s largest Bitcoin corporate holder, has further increased its holdings of the primary cryptocurrency. According to a recent filing, the company acquired an additional 16,130 bitcoins between November 1 and November 29, spending $593.3 million at an average price of $36,785 per bitcoin.

Digital Assets

Paxos gets nod to issue dollar-backed stablecoins in UAE

Stablecoin issuer Paxos has received preliminary approval from Abu Dhabi’s Financial Services Regulatory Authority to issue U.S. dollar-backed virtual currencies and provide crypto-brokerage and custody services.

Digital Assets

Flare Labs Begins Testing FAssets on Coston Testnet Paving Way for Non-Smart Contracts to Flare

Flare Labs has introduced FAssets on the Coston testnet, enabling the integration of non-smart contract tokens like BTC, XRP, and DOGE into the DeFi ecosystem.

Digital Assets

Philippine bars access to Binance, citing unregistered operations

The Philippines’ Securities and Exchange Commission (SEC) is moving to block access to Binance due to regulatory concerns, citing the platform’s operation without proper registration and authorization in the country.

Digital Assets

FTX cleared to sell investments in Grayscale and Bitwise funds

Bankrupt cryptocurrency exchange FTX has received approval from the bankruptcy court to start selling its stakes in digital trusts managed by Grayscale Investments.

Digital Assets

Nexo launches Dual Investment for yield earning and price prediction

“Dual Investment revolutionizes how users engage with BTC and ETH, offering a flexible, intuitive, yet sophisticated platform for predicting asset price movements, all while securing high yields.”


Aquis Stock Exchange goes live with cloud-based matching engine powered by AWS

“By running on AWS, the Aquis Stock Exchange is driving transformation across the capital markets industry while continuing to enhance the scalability, functionality and innovation that will benefit its members and stakeholders in an environment where security and resiliency are our highest priority.”


Options Technology certified as Microsoft Azure partner for Digital & App Innovation

“Securing our fifth Microsoft Solutions Partner status in less than 12 months is a testament to our commitment to innovation, excellence, and the highest industry standards. We are not only keeping pace with the evolving landscape of cloud technology but leading the way in shaping its future.”