Lydsec Digital Technology, operating under the brand name Keypasco, will list on Taiwan’s emerging stock market on May 13, 2025. The company’s shares will trade under Taipei Exchange stock code 7834, priced at NT$58. Concord Securities is serving as lead underwriter for the offering, which reflects Lydsec’s broader ambition to scale its global digital security business.
Authentication Leader with Global Reach and Patent Portfolio
Founded in 2013, Lydsec has grown into a major player in the authentication security sector, providing identity and access management technologies to financial institutions, governments, and a growing number of enterprise clients. The company’s 2024 financials highlight this growth, with NT$110 million in consolidated revenue—an increase of 69 percent over the previous year—net profit after tax of NT$15.42 million, and earnings per share of NT$1.15. The firm enters the public market with NT$164 million in paid-in capital.
Lydsec derives around 70 percent of its revenue from international markets, including Japan, Europe, the Middle East, and India. Its Keypasco product suite supports a wide range of security technologies, including Zero Trust Network Access (ZTNA), Multi-Factor Authentication (MFA), federated Single Sign-On (SSO), proximity-based authentication, and FIDO authentication frameworks. These solutions have been adopted across sectors including finance, government, e-commerce, healthcare, online gaming, real estate, and EV charging networks.
The company holds six international patents across 16 countries, covering technologies such as device fingerprinting, geo-location verification, centralized PKI, dynamic URL links, key management systems, and proximity-based identity validation. These proprietary capabilities form the core of Lydsec’s competitive differentiation in a rapidly evolving authentication landscape.
Government Certification and Industry Context
Lydsec is one of the few cybersecurity vendors in Taiwan certified by the Institute for Information Industry (III), under the Ministry of Digital Affairs, for the functionality of its zero-trust solutions. This credential is particularly significant for its expanding government and enterprise client base, as Taiwan and other regional governments raise security and compliance expectations.
Lydsec reports more than 10 million users globally, many of whom access sensitive services such as mobile banking, online medical portals, or secure enterprise dashboards through Keypasco’s authentication infrastructure.
The IPO arrives at a time of global momentum in passwordless authentication, identity orchestration, and AI-enhanced risk management. Lydsec’s technologies align with these trends, incorporating AI-driven anomaly detection and dynamic identity scoring into their solutions. The company’s architecture emphasizes privacy-by-design and risk-based step-up authentication, enabling seamless user experiences that satisfy compliance requirements without sacrificing usability.
Source: PressBee
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May 12, 2025 – by Ji-seo Kim
