Trust Stamp is continuing to push for various forms of financial and technological inclusion. To that end, the company’s Trust Stamp Malta Limited subsidiary has established a new non-profit foundation in the country that will work to make sure that more people have access to good educational opportunities and modern technological infrastructure.
The Quantum Foundation will operate in the Republic of Malta as a fully-owned Trust Stamp Malta Limited subsidiary. Trust Stamp Malta itself was set up in 2020, and serves as an R&D hub with a staff of 40 people. The Republic provided Trust Stamp with $1.15 million to help get the business off the ground.
The creation of the new Quantum Foundation would seem to give the Republic some return on that investment. The Foundation is already collaborating with Malta Enterprise and Plug and Play Switzerland to establish a new Malta Acceleration Program that will foster the start-up community in the country. The Program will help drive innovation in Malta, and ensure that everyone is able to enjoy the benefits of the latest technologies.
Trust Stamp itself already has a pre-existing relationship Plug and Play. The company picked up the People’s Choice award while participating in the Plug and Play FinTech program in 2018, and would go on to receive similar recognition as a member of the first cohort of the Plug and Play Abu Dhabi Global Market Fintech program later that same year.
“Trust Stamp has established the Quantum Foundation to support the development of early-stage, leading-edge technology companies in Malta, as we believe that a strong innovation ecosystem is important not just for our own company but also for the entire economy,” said Trust Stamp CEO Gareth Genner. “The programmatic focus on data reflects our commitment to innovations in data privacy and security, and we look forward to supporting and collaborating with other innovators in the field.”
Trust Stamp has been ramping up its Malta operation with the appointment of a new Research Director and a new CEO earlier this year. The company is best known for its biometric onboarding technology, and recently released a new Biometric MFA solution that is designed to replace One-Time Passwords with more secure forms of identity verification.
May 5, 2022 – by Eric Weiss