T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID) said Monday it has registered its blockchain-based TRUSTED token on Wyoming’s official digital asset register, marking a new step in its identity-focused blockchain strategy.
Trust Stamp shares rose 9% to $3.23 in early trading on Monday.
The token, built on the Ethereum network and first deployed in May 2021, is linked to the company’s public wallet address, truststamp.eth. The registration was handled by Global Server Management, a wholly owned subsidiary of the Atlanta-based company incorporated in Wyoming.
Chief executive Gareth Genner said the firm’s identity tokens are designed to enhance privacy while validating ownership of digital assets.
“In particular, there are very specific needs and opportunities around the creation of Stablecoins and we are uniquely positioned to provide issuers and custodians with quantum-ready and privacy-protecting identity and ownership validation tools,” Genner said.
Trust Stamp’s technology, including its IT2 and StableKey systems, uses artificial intelligence to transform identity data into non-reversible tokens.
A US patent granted to the company covers how these tokens can be used to validate ownership of cryptographic asset contracts.
The Nasdaq-listed company provides digital identity and fraud-prevention tools for financial services, government, healthcare and other sectors, with operations spanning North America, Europe, Asia and Africa.