: The software closes unexpectedly during the initial splash screen sequence.
Scroll down the alphabetical list to find or Protexis Licensing V2 . Right-click the service and choose Properties . Change the Startup type dropdown menu to Automatic . If the service status reads stopped, click Start . Click Apply, hit OK, and try relaunching Corel X4. 2. Restore the File via Corel Installation Repair
The quickest and most common fix for Error 38 is to check if the "Protexis Licensing V2" service is running.
The you're seeing (e.g., "File not found" vs. "Access violation") Your Windows version (10, 11, or an older legacy system)
Difficult for average users to manually repair without a reinstall. Essential for older perpetual license validation.
When searching for a fix, you will find many unofficial portals offering a free download of Psikey-2.dll .
: Running the sfc /scannow command in the Windows terminal can help repair registry errors or missing system-level dependencies.
Restart your computer to clear temporary system memory cached files.
Repeated installations or uninstalls can break the file path to the DLL.
CorelDRAW X4 is a legacy product, and while it can work on modern Windows, issues like Psikey-2.dll are common due to tighter security controls in modern OS environments. By following the steps above—specifically ensuring the file is not quarantined by antivirus software—most users can restore functionality.
Check the box that says .
Because Corel X4 is legacy software, Psikey-2.dll may struggle to interact with modern operating systems (Windows 10/11). Users have reported that the licensing module fails to launch, preventing the software from opening. Running the application in "Compatibility Mode" (Windows Vista or Windows 7) often resolves these interaction
Type the following command and press enter: regsvr32 C:\Program Files (x86)\Corel\CorelDRAW Graphics Suite X4\Programs\Psikey.dll (Note: Adjust the file path if you installed CorelDRAW to a custom directory or drive).
: For persistent service crashes, some users create a batch file ( .bat ) to force-start the service ( sc start PSI_SVC_2 ) immediately before launching the main Corel executable. Technical Details File Creator : Corel / Protexis Inc. Original File Version : 2.0.1.x.
Because PSIService.exe runs silently in the background and sends validation data over the internet, aggressive modern antivirus programs frequently flag psikey-2.dll as a false positive or spyware, locking it away in quarantine.
Open your anti-malware dashboard (such as Windows Defender or a third-party application). Check the or Quarantine vault. Look for an entry involving psikey-2.dll or PSIService.exe . Choose Restore and Allow or Add to Exclusions .
Malware infections can cause Psikey-2.dll errors. Run a full virus scan using your preferred antivirus software to detect and remove any malware.
