Why The Trust Stamp Stock Surged 48.98% (IDAI)

By Amit Chowdhry ● Jan 24, 2023
  • The stock price of Trust Stamp (IDAI) surged by 48.98% in the most recent trading session. This is why.

The stock price of Trust Stamp (IDAI) surged by 48.98% in the most recent trading session.

Why: Trust Stamp announced that it has received a Notice of Allowance from the United States Patent Office for its Privacy-First Identity Company trademark.

Trust Stamp had launched its low-code Privacy-First Identity solution for banks and financial institutions in 2022 and is now seeing significant traction, with 22 banks (with total assets exceeding $50 billion) enrolling in paid pilot programs over the past three months.

Plus, Trust Stamp’s accelerating traction with banking institutions parallels its 2022 release of a range of Privtech Certified identity products to empower government agencies to balance safe and efficient interaction with digital users with minimized intrusion into the user’s privacy.

KEY QUOTE:

“Trust Stamp’s mission is to accelerate secure financial and societal inclusion, on and offline, for everyone, everywhere, by giving them the means to establish their identity using universally accessible privacy-first products and services. Our mission’s emphasis on privacy resonates with multiple industries, and this trademark further emphasizes our commitment to making our mission a reality.”

— Gareth Genner, CEO & Co-founder of Trust Stamp