Trust Stamp finds more funds in warrant exchange, launches TSI Wallet

Trust Stamp is marking a series of wins that include new funds, a U.S. patent allowance for deepfake detection technology, and a megawallet.

A press release says that on October 31, T Stamp Inc. entered into a warrant exercise and exchange inducement agreement with an institutional investor that generated approximately 4.3 million dollars in gross proceeds. The agreement included reducing the exercise price of existing warrants and issuing new unregistered warrants.

The company intends to use the proceeds for “business growth and general corporate purposes” while agreeing to file a resale registration statement and prohibiting certain stock transactions for 90 days.

Trust Stamp has now raised in excess of 10 million dollars in new capital in recent months. Announcements on product development also reflect the company’s upward trend, with Spark’s technical analysis indicating strong bullish momentum for the firm’s IDAI stock.

TSI Wallet combines Stable Key tech with tokenized biometrics

A release says the company has launched a cryptocurrency and asset tokenization-focused initiative headlined by the biometrically validated, quantum-secure TSI Wallet, which “can serve as both a non-custodial wallet and a ‘Wallet of Wallets’.”

Trust Stamp’s TSI Wallet provides the user with a single access point for all their digital assets. Established and accessed via a proprietary Stable Key generated by the user’s tokenized facial biometrics, it eliminates the need to memorize or store passwords, PINs and private keys, and applies a zero knowledge proof (ZKP) protocol for remote identity proofing and an additional authentication factor.

Its biometric authentication cryptosystem binds live biometrics to the user’s wallet, without storing biometric data in the wallet itself. Encrypted “helper data” is sharded and stored discretely, so that even compromised information is fragmented and cannot be recombined without the user’s live presence. That means a compromised wallet does not equate to account takeover, and there are secure protocols in place for wallet recovery.

ZKPs help close gaps in account recovery

Trust Stamp’s Chief Science Officer Dr. Norman Poh says account recovery is one of the weakest links in cloud-based custodial wallets because they are “backdoors that attackers can exploit.” Meanwhile, backup and recovery for non-custodial wallets is typically tied to hardware, making it vulnerable.

“Our zero knowledge proof solution utilizes private keys secured and derived from the user’s live biometric samples and are therefore user-centric rather than bound to a specific device, empowering users to securely yet conveniently access their wallets from any enrolled device.”

Gareth N. Genner, Trust Stamp’s CEO, says that “Trust Stamp’s identity and asset tokenization technologies are expressly designed for the digital economy. As digital assets are becoming mainstream their promulgation requires the advanced security and privacy protections that our technology affords.”

“Given the projected growth of the overall digital asset market and the specific velocity of the Stablecoin market we believe that the TSI Wallet, combined with Stable Key and our other digital asset and tokenization related technologies, will play a significant role in our business growth and start to meaningfully contribute to revenue by Q4 of 2026.”

Genner also has comments on Trust Stamp being issued a “notice of allowance in respect of Non-Provisional Patent Application No. 18/145,470 entitled: Systems and Processes for Multifactor Authentication and Identification,” which a release says covers “proprietary techniques that utilize anonymized data from historic attacks to identify attacks in future transactions.”

The exec says the growth in the volume and sophistication of deepfake attacks is fueled by the use of Generative AI and it is “critical for the defenses against such attacks to be constantly refined at an equal or greater pace.”

Article Topics

biometric authentication  |  biometric binding  |  biometrics  |  digital wallets  |  face biometrics  |  funding  |  patents  |  stocks  |  tokenization  |  Trust Stamp  |  zero knowledge