Trust Stamp (OTCQX:IDAI, EURONEXT:AIID), a provider of AI-powered trust and identity services, has announced that it received approval to have its Class A common stock listed on the tech-dominated Nasdaq Capital Market under the symbol “IDAI” with trading expected to kick off on January 31, 2022.
Prior to listing on Nasdaq, the company's shares continue to trade on the OTCQX Best Market under the same ticker symbol.
The company has filed its Form 8-A registration statement with the Securities and Exchange Commission (SEC) and has also received SEC qualification for its Form 1-A offering in which existing investors can exercise warrants.
READ: Trust Stamp files with the Securities and Exchange Commission ahead of Nasdaq target
The uplisting news continues to propel the momentum Trust Stamp built in 2021 by scoring an initial contract award of $3.92 million from the United States Department of Homeland Security. It was a busy year for Trust Stamp (OTCQX:IDAI, EURONEXT:AIID) where it also increased R&D, productization and business development resources to meet growing demand across new geographies and verticals, and established subsidiaries in Rwanda and the Isle of Man.
In a statement, Trust Stamp CEO Gareth N Genner said: “Trust Stamp has raised over $30 million in capital, welcomed over 3,500 shareholders, and scaled to over 100 passionate team members in nine countries.”
“We appreciate the tremendous support of our shareholders, customers, and partners, which has enabled us to achieve this incredible milestone of listing on Nasdaq,” he added.
Trust Stamp and its subsidiaries deliver security and privacy among biometric and digital identity solutions, taking a unique approach to data tokenization with proven cross-industry applications. The company’s core technology leverages deep neural networks in a patented process that turns any biometric or other sensitive data into unique, anonymized representations known as the Irreversibly Transformed Identity Tokens (IT2) that are safely stored, shared, and utilized as accurate identifiers across use cases of any scale.
“Trust Stamp’s competitive advantage versus the legacy biometrics industry continues to garner commercial support across government and enterprise security and fraud prevention, data protection and privacy, and financial accessibility applications, which is reflected in our sustained year-over-year growth despite exceptional market conditions,” said Trust Stamp president Andrew Gowasack. “We look forward to further strengthening our position as a trusted leader in the identity space with the increased visibility and reputation that a Nasdaq listing affords.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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