Welcome to ID Tech’s digest of identity industry news. Here’s what you need to know about the world of digital identity and biometrics today:
Matica Fintec to Acquire Controlling Stake in Credence ID
Matica Fintec S.p.A. has signed an agreement to acquire an initial 51 percent stake in Credence ID LLC, a provider of biometric and digital identity solutions based in Oakland, California. The deal is structured to give Matica immediate control and the ability to consolidate Credence ID’s results within its group financial statements.
Trust Stamp and Blue Gold Sign LOI for Biometric Wallet-of-Wallets Tied to Tokenized Gold
Trust Stamp and Blue Gold have signed a letter of intent to collaborate on a biometric, passwordless “Wallet-of-Wallets” concept linked to tokenized gold. The proposal positions biometrics as the access layer for an aggregated wallet framework rather than a single-purpose wallet. The announcement outlines intent only, with definitive commercial terms still to be finalized.
SMX, FinGo, and Bougainville Refinery Target Biometric Identity for Gold Supply Chains
SMX, FinGo, and Bougainville Refinery are working on a biometric digital identity initiative aimed at strengthening KYC and AML controls in the gold supply chain. The effort focuses on establishing verified identities for participants involved in sourcing and processing. It builds on earlier work combining biometric identity with traceability tools in artisanal mining contexts.
World Bank Approves $50M Sri Lanka Digital Transformation Project Built on DPI
World Bank has approved a $50 million digital transformation project for Sri Lanka centered on shared digital public infrastructure. Planned components include a government service portal, SuperApp, digital locker, authentication services, and e-signatures. The program follows recent biometric ID procurement and MOSIP-based digital ID development efforts.
South Korea Adds Facial Verification to Mobile Activation to Combat Voice Phishing
South Korea will introduce facial verification into mobile phone activation processes starting with a pilot in December 2025. The system compares a live facial image against an ID document photo and stores only a binary match result. Officials frame the move as part of a broader response to SIM-swap fraud and large-scale voice-phishing attacks.
San Jose Seeks Biometric Narcotic Safes with Cloud Management
The City of San Jose has issued an RFQ for biometric narcotic safes paired with a cloud-based management platform. The solicitation calls for controlled access, centralized monitoring, and compliance with city security and privacy requirements. Contracts may run up to seven years and could be used by other public agencies through cooperative purchasing.
Peel Regional Police Issues RFP for Cloud AFIS Integrated with RCMP RTID
Peel Regional Police has released an RFP for a cloud-based automated fingerprint identification system integrated with the RCMP Real Time Identification program. The procurement seeks a scalable AFIS-RTID platform under a five-year services contract. Identified plan takers include IDEMIA, NEC, and Gemalto.
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By the ID Tech Editorial Team