Trust Stamp has become the first tech start-up with a Malta base to launch on NASDAQ, according to Minister for Energy, Enterprise and Sustainable Development Miriam Dalli, who made the statement during a visit to the company led by CEO and co-founder Gareth Genner.

Trust Stamp provides biometric-based security systems based on their patented technology across the US, Europe, Asia and Africa.

The product range offered by Trust Stamp uses technology and artificial intelligence to enable banks and other institutions to verify customer credentials. The technology that is being researched and developed in Malta is used by highly regulated industries and international financial institutions such as MasterCard.

During the Minister’s visit, it was also revealed that the company will be significantly expanding its operations, investing a further €6 million in the next three years as it increases its presence in the country, while employing another 50 people in its offices in Malta.

 

DOI photo - Geoffrey Zarb Adami

In a speech at the visit, Mr Genner outlined how the company came to the decision to set up its European base in the country and expressed his gratitude to the Maltese government and Malta Enterprise, which he credited as a factor in the success of the company.

“Your trust and investment in our vision, in what was a critical time for our company, helped make our success possible, and we look forward to continuing to work with you as we continue to grow Trust Stamp and continue to invest in the Maltese economy,” said Mr Genner.

Malta Enterprise’s financial support, schemes and incentives were said to be “crucial” for the company’s growth and its eventual investment of around €3.5 million in the Maltese economy in the last year and a half.

NASDAQ is the largest electronic stock exchange in the world, allowing investors to trade on more than 3,500 of the world’s largest and foremost tech companies.

Alongside the achievement, Trust Stamp also recently announced the appointment of a new CEO for its Malta and Rwanda subsidiaries, in the form of Josh Allen.