Trust Stamp signs MOU with Ghana’s identity agency for tokenization

ATLANTA - Trust Stamp (NASDAQ:IDAI), whose shares have surged nearly 50% over the past six months and currently trade at $3.18, has entered into an exclusive Memorandum of Understanding with the Ghana National Identity Agency (NIA) to provide identity tokenization services, according to a press release issued Monday.

The agreement establishes an initial two-year exclusivity period that can be extended by mutual agreement. Under the terms, a Joint Working Team will develop a comprehensive long-term contract for Trust Stamp to provide digital identity implementations and identity tokenization services based on revenue sharing arrangements.

NIA maintains Ghana’s National Identity Register, which contains biographic and biometric data of all citizens and eligible residents. The agency issues the Ghana Card, which serves as the primary form of identification in the country and is used for banking, SIM registration, travel within ECOWAS, and access to public services.

The agency also provides identity verification services for government entities, banks, telecommunications companies, and private businesses to reduce fraud across financial and social systems.

Ghana, with a population approaching 35 million people, has implemented the Ghana Card as part of its digital identity program. The country is also part of the African Continental Free Trade Area (AfCFTA), which unifies 54 nations representing 1.47 billion people.

Trust Stamp, which trades on the Nasdaq Capital Market with a market capitalization of $8.11 million, provides AI-powered services for multiple sectors including banking, regulatory compliance, government, healthcare, and humanitarian services. The company, which generated $3.37 million in revenue over the last twelve months, has team members across North America, Europe, Asia, and Africa. InvestingPro analysis reveals 10+ additional key insights about Trust Stamp’s financial health and market position.

The information in this article is based on a company press release statement. For comprehensive financial analysis and real-time updates on Trust Stamp’s performance metrics, visit InvestingPro, which offers exclusive insights and detailed financial health scores.

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