T Stamp Inc. reports developments for Trust Stamp, a Nasdaq-listed provider of AI-powered trust, identity and security software. Company news centers on biometric tokenization, privacy-preserving authentication, fraud reduction and digital identity services used across banking and finance, regulatory compliance, government, healthcare, real estate, communications and humanitarian services.
Recurring updates include commercial agreements, customer integrations, product and trademark activity for biometrically secured wallet technology, annual results, customer enrollment trends and expansion across geographies. News also covers completed strategic transactions, including the Lexverify acquisition and CyberFish investment, as well as partnerships involving decentralized identity, Multi-Party Computation and driver’s license data verification.
Trust Stamp (OTCQX:IDAI, Euronext Growth: AIID ID) has filed Form 1-A with the SEC for a Regulation A offering, aimed at qualifying existing investors to exercise warrants from their H2 2021 funding round. This comes as part of the company’s strategic plan to uplist to Nasdaq, contingent upon meeting specific criteria, including a minimum $4 share price and sufficient trading volume. Trust Stamp has also completed a PCAOB audit to enhance its qualifications for national exchange listing, reflecting ongoing growth and ambitions for 2022.
Trust Stamp (OTCQX: IDAI) reports a successful year-end review for 2021, showcasing significant growth across operations. Highlights include a 121% year-over-year increase in Non-GAAP Billed Revenue, a 195% increase in Q4 Non-GAAP Billed Revenue, and a 195% rise in market capitalization. The company also secured a $3.92M contract with the US Department of Homeland Security, marking its entry into the GovTech market. Additionally, Trust Stamp expanded its patent portfolio and workforce, positioning itself for ongoing growth in the digital identity sector.
Trust Stamp has successfully raised US $8.84M from both new and existing shareholders through a recent fundraising effort. This brings the total amount raised to US $30.05M to date. The capital raised will enhance market penetration and further develop the company's AI-powered identity solutions. With plans to list on the Nasdaq Capital Market, Trust Stamp aims to address emerging global market needs. The fundraise involved issuing 3,816,967 new shares and 1,378,766 warrants, with key investors including Second Century Ventures LLC and REach® Ventures LLC.
Trust Stamp (OTCQX:IDAI) has received allowances for three key U.S. patent applications, enhancing its AI-powered identity services. The patents include Systems and Methods for Passive-Subject Liveness Verification in Digital Media and Systems and Processes for Lossy Biometric Representations, both of which focus on secure biometric data handling. Trust Stamp's innovative technologies significantly improve security and privacy while reducing costs compared to traditional biometric solutions. This expansion of their intellectual property portfolio positions Trust Stamp to address growing challenges in digital identity and privacy.
Trust Stamp (OTCQX: IDAI) is expanding its operations in Rwanda by doubling its Kigali team from 12 employees to enhance the development of a unique Africa-centric biometric solution. This initiative is aimed at facilitating digital and in-person transactions across the continent, leveraging opportunities presented by the African Continental Free Trade Area (AfCFTA). The company has formed strategic partnerships, including a Memorandum of Understanding with a Rwandan university, and is focused on implementing privacy-preserving biometric technology to ensure data security.
Trust Stamp (OTCQX: IDAI) announced that CEO Gareth Genner will present at the Benzinga All Access event on December 2, 2021, at 9:40 A.M. ET. Genner is excited to discuss innovations in identity, data protection, biometrics, and cybersecurity. This event provides a platform to showcase Trust Stamp's pivotal technology in fostering a globally inclusive identity framework. The presentation will be accessible live and later archived on Trust Stamp’s investor relations website.
Trust Stamp (OTCQX:IDAI) announced that it has stopped soliciting new investments for its Regulation CF offering, having received over $14.9M in signed subscription agreements. The offering was oversubscribed, and completed applications will be processed until reaching the $5M cap, with excess subscriptions refunded. Trust Stamp plans to initiate a PCAOB audit and has submitted a draft Regulation-A offering statement to the SEC, aiming for a Nasdaq uplisting. Continuous support from shareholders has been acknowledged, highlighting participation in prior funding rounds.
Trust Stamp (OTCQX:IDAI) has announced the creation of Metapresence Limited, a wholly owned crypto-asset subsidiary based in the Isle of Man, joining the Digital Isle of Man Accelerator Program. This initiative enables Trust Stamp to provide a Crypto Key Vault that utilizes advanced biometric authentication for securing cryptocurrency access. The vault service aims to address the growing demand for secure digital asset management, especially after the OCC's guidance for banks to offer custody services. Trust Stamp is also actively engaging in regulatory applications across various jurisdictions.
Trust Stamp (OTCQX: IDAI) announces the appointments of Kristen Stafford and Berta Pappenheim as Independent Non-Executive Directors, effective December 1, 2021. Stafford has extensive experience in SaaS and compliance solutions, while Pappenheim specializes in occupational psychology and cybersecurity. The board will now consist of eight directors, enhancing governance as the company prepares to uplist to the NASDAQ. Stafford will serve on the Audit and Nomination Committees, and Pappenheim on the Compensation Committee.
Trust Stamp (OTCQX: IDAI) has filed a U.S. Provisional Patent Application for a privacy-first technology focused on non-fungible tokens (NFTs) and digital assets. This innovation enables self-sovereign identity authentication and ownership verification of digital assets via the Irreversibly Transformed Identity Token IT2. The technology is platform-agnostic and supports cross-platform transactions. Trust Stamp aims to enhance security and efficiency in the rapidly growing digital asset market, addressing user concerns in sectors such as finance and humanitarian services.