Trust Stamp Announces Strategic Alliance for Global Identity Consortium

Trust Stamp has entered into a Letter of Intent with Qenta Inc. for a strategic alliance aimed at integrating into a global Identity Consortium.

This partnership will serve a federated network that includes cryptocurrency, banking, and other financial services companies. The Letter of Intent is non-binding until the definitive transaction documents are executed.

“Qenta is a global company that elevates the world’s citizens and businesses through a frictionless, accessible, secure, and compliant financial ecosystem that can digitize and democratize all of the world’s assets and transactions,” commented Gareth N. Genner, CEO of Trust Stamp. “According to a report by the Boston Consulting Group, the global movement from physical to digital transactions is estimated to result in $16 trillion in annualized digital transactions by 2030, with resulting service revenue from tokenization predicted to grow from $2.81 Billion in 2023 to $13.2 Billion by 2032.”

Genner noted that Trust Stamp’s proprietary technology will enhance Qenta’s products and services, particularly in providing secure, tokenized identity services that ensure compliance and privacy. With twenty issued patents and nine pending patents related to the tokenization of identity and data, Trust Stamp is positioned to play a significant role in the growing digital transaction market.

“This strategic alliance brings together two innovative companies with complementary technologies,” said Brent De Jong, Chairman, CEO, and Founder of Qenta. “Trust Stamp and Qenta share a vision of shaping the future of identity and data management. Combining our technologies and solutions will enhance capabilities for innovative and regulatory-compliant AI-powered solutions addressing data controls, privacy, secure content transfer, and payments.”

The news comes a few weeks after an announcement from Trust Stamp that it joined the NayaOne Tech Marketplace, providing AI-powered identity solutions aimed at helping banks and financial institutions combat fraud, retain customers, and grow their user base.

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July 24 2024 – by Tony Bitzionis

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