Trust Stamp has entered a Letter of Intent (LOI) with Qenta Inc. to form a strategic alliance aimed at integrating into a global Identity Consortium. This consortium will serve a federated network that includes sectors such as cryptocurrency, banking, and other financial services. The LOI, while currently non-binding, sets the stage for a deeper collaboration pending the execution of definitive transaction documents.

Qenta Inc. is a global company focused on creating a secure and compliant financial ecosystem that facilitates digital transactions. The partnership aims to leverage Trust Stamp’s proprietary identity and data tokenization technology, which includes twenty issued patents and nine pending patents, to enhance Qenta’s services. This technology will provide secure and compliant identity services, critical in a digital economy predicted to reach $16 trillion in annualized transactions by 2030, with service revenue from tokenization expected to grow significantly.

Brent De Jong, CEO of Qenta, emphasized the complementary nature of the companies’ technologies and shared vision for the future of identity and data management. The partnership aims to enhance capabilities in areas such as data controls, privacy, secure content transfer, and payments through innovative, AI-powered solutions.

This collaboration follows Trust Stamp’s recent inclusion in the NayaOne Tech Marketplace, where it offers AI-powered identity solutions to assist banks and financial institutions in combating fraud, retaining customers, and expanding their user base.

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Source: findbiometrics.com

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