In this work we present an iris-biometric cryptosystem. Based on the idea of exploiting the most reliable components of iriscodes, cryptographic keys are extracted, long enough to be applied in common cryptosystems. The main benefit of our system is that cryptographic keys are directly derived from biometric data, thus, neither plain biometric data nor encrypted biometric data has to be stored in templates. Yet, we provide fully revocable cryptographic keys. Experimental results emphasize the worthiness of our approach.