SINGAPORE, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Trident Digital Tech Holdings Ltd (NASDAQ: TDTH), a Singapore-based leader in digital transformation and Web 3.0 activation, today announced plans to pursue regulatory approvals for stablecoin operations across several African countries. The initiative aims to accelerate adoption of Ripple USD (RLUSD) – Ripple’s U.S. dollar–pegged stablecoin – to enhance financial inclusion and digital payments infrastructure on the continent. Strategic BackgroundTDTH recently to ...

Trident Digital Tech Holdings Ltd. ( TDTH ) has been public for almost a year, and the business is undergoing meaningful changes. It started as a business consulting and marketing agency, where they provided a full businessI like how a single event can ripple through markets and trigger a chain of reactions. That curiosity is what led me to study macroeconomics and eventually shape the way I invest. I have five years of experience in the investment field and an MBA in Macroeconomics and Portfolio Management ...

Core Insights - Trident Digital Tech Holdings Ltd. is the Principal Partner of Singapore's National Day Parade 2025, promoting the Tridentity GO campaign to celebrate SG60 and connect local merchants with customers [2][8] Group 1: Tridentity GO Campaign - The Tridentity GO campaign is a nationwide digital initiative running from early July to the end of August, offering exclusive deals from over 70 local merchants across various sectors [3][5] - Users can collect digital "stamps" through activities such as logging into the app, answering quiz questions, and redeeming merchant deals, which can lead to prizes and a lucky draw [7][3] - As of mid-campaign, over 60 users have collected 60 stamps and claimed prizes, indicating strong engagement [4] Group 2: Supporting Local Businesses - A primary goal of the Tridentity GO campaign is to spotlight and support Singapore's local merchant community by driving traffic and increasing sales through exclusive SG60 deals [5] - The campaign integrates technology with community spirit, allowing Singaporeans to connect with their heritage and local businesses in a modern way [5][9] Group 3: Company Overview - Trident is focused on digital transformation and Web 3.0 activation, with its flagship product, Tridentity, being a blockchain-based identity platform for secure authentication [10] - The company aims to become a global leader in Web 3.0 enablement, particularly in high-growth markets [10]

Core Insights - Trident Digital Tech Holdings Ltd. is the Principal Partner of Singapore's National Day Parade 2025, promoting its blockchain-based identity platform, Tridentity, through a national campaign [1][2][5] Group 1: Tridentity GO Campaign - The Tridentity GO campaign is a nationwide digital initiative running from early July to the end of August, celebrating Singapore's 60th National Day with interactive experiences and exclusive deals from over 70 local merchants [3][4] - Users can collect digital "stamps" through the Tridentity app by engaging in activities such as logging in daily, answering quiz questions about Singapore's history, and redeeming special merchant deals [6][7] - The campaign aims to support local businesses by channeling traffic and boosting sales through SG60 exclusive deals, enhancing community engagement [4][8] Group 2: Company Overview - Trident is focused on digital transformation and Web 3.0 activation, with its flagship product, Tridentity, providing secure single-sign-on authentication across various industries [9] - The company's mission is to become a global leader in Web 3.0 enablement, particularly targeting high-growth markets in Southern Africa and beyond [9]

Core Points - Trident Digital Tech Holdings Ltd. has signed a public-private partnership (PPP) agreement with the government of the Democratic Republic of the Congo (DRC) to implement a national digital identity system called DRCPass [1][4] - The agreement establishes Trident as the exclusive e-KYC service provider for the DRC, focusing on enhancing digital transformation and Web 3.0 development in the country [1][3] Group 1: Agreement and Implementation - The finalization of the PPP agreement marks the official launch of the national digital identity system in the DRC, which will be rolled out in phases alongside public education initiatives [1][4] - Trident's deployment will focus on four key applications: SIM card registration, access to e-government and business portals, digital payments, and a secure digital citizen identity [3][4] Group 2: Benefits and Impact - The e-KYC technology will simplify identity verification processes for organizations while enhancing security measures, addressing issues like "ghost numbers" in SIM card registrations [3][4] - The DRC has over 80 million mobile device subscribers, and the implementation of secure e-KYC services is expected to benefit a growing banking user base [4] Group 3: Company Overview - Trident aims to be a leader in digital transformation and Web 3.0, with its flagship product, Tridentity, providing a blockchain-based identity platform for secure single sign-on verification services [5] - The company focuses on developing reliable and secure digital infrastructure, particularly in Southern Africa and other high-growth markets [5]

Core Points - Trident Digital Tech Holdings Ltd. has signed a definitive public-private partnership agreement with the Government of the Democratic Republic of Congo to launch the national digital identification system "DRCPass" [1][2] - The partnership is a culmination of a collaboration framework established in December 2024, positioning Trident as the exclusive provider of electronic Know Your Customer (e-KYC) services in the DRC [2] Group 1: Digital Identification System - The DRCPass will be deployed in phases, accompanied by a public-education campaign to ensure widespread adoption [1] - The system aims to enhance governance and financial inclusion in the DRC, marking a significant step towards digital sovereignty [9] Group 2: e-KYC Technology Applications - The e-KYC technology will streamline identity verification, focusing on four core use cases: 1. SIM-card registration to eliminate "ghost" lines and reduce fraud [3] 2. Seamless access to e-government and business portals through single-sign-on (SSO) [4] 3. Enabling digital payments with instant credit access [4] 4. Providing a centralized digital citizen identity that complements physical IDs [5] Group 3: Market Potential - The DRC has over 80 million mobile subscribers, indicating a substantial market for secure e-KYC services [10] - Trident aims to leverage this opportunity to enhance digital transformation and financial access in the region [11]

Core Insights - Trident Digital Tech Holdings Ltd is launching an initiative to raise up to $500 million to create one of the world's first large-scale corporate XRP Treasuries, positioning itself at the forefront of decentralized financial asset integration [1][2][5] Group 1: Initiative Details - The initiative will focus on acquiring XRP tokens as long-term strategic reserves and deploying staking mechanisms to generate yield while engaging deeply within the Ripple ecosystem [2] - Capital will be raised through a mix of equity issuance, strategic placements, and structured financing instruments, with discussions ongoing with leading crypto foundations and institutional partners for favorable token acquisition terms [3] Group 2: Implementation Timeline - The initial rollout of the XRP Treasury is planned for the second half of 2025, contingent on regulatory compliance and market conditions, with ongoing updates to be provided on deployment milestones and governance frameworks [4] Group 3: Company Vision and Commitment - The company emphasizes its commitment to transparency, strong governance, and strategic foresight, viewing digital assets as key enablers in the evolution of the global financial landscape [5] - Trident aims to demonstrate how public companies can responsibly participate in the development of decentralized finance through this initiative [5] Group 4: Company Overview - Trident is a leading catalyst for digital transformation in technology optimization services and Web 3.0 activation, based in Singapore, offering digital solutions to enhance client experiences [6] - The company's flagship product, Tridentity, is a secure blockchain-based identity solution aimed at providing secure authentication capabilities across various industries [7]

Core Points - Trident Digital Tech Holdings Ltd has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as its share price has been below $1.00 for 32 consecutive business days [1][2] - The company has a compliance period of 180 calendar days, until November 10, 2025, to regain compliance with the minimum bid price requirement [3] - If the closing bid price reaches at least $1.00 for ten consecutive business days during this period, Nasdaq will confirm compliance [3] - In case of non-compliance by the deadline, the company may be eligible for an additional 180-day grace period, provided it meets other listing requirements [4] - The company is monitoring its share price and considering options to regain compliance [5] Market Value Compliance - On May 13, 2025, Trident received a letter from Nasdaq indicating that it did not maintain the minimum market value of listed securities (MVLS) of $35 million for 31 consecutive business days [6] - The company has until November 10, 2025, to regain compliance with the MVLS requirement [6] - To regain compliance, the MVLS must meet or exceed $35 million for ten consecutive business days during the compliance period [7] - Failure to comply by the end of the MVLS compliance period may result in delisting, which the company can appeal [7] - The company is also monitoring its MVLS and considering options if compliance is not achieved [8] Company Overview - Trident is a leading catalyst for digital transformation in technology optimization services and Web 3.0 activation, based in Singapore [10] - The company offers digital solutions aimed at optimizing client experiences and promoting digital adoption [10] - Tridentity, the company's flagship product, is a secure blockchain-based identity solution designed for single sign-on authentication across various industries [11] - The company's mission is to become a global leader in Web 3.0 activation, connecting businesses to secure technological platforms [12]

Core Insights - Trident Digital Tech Holdings Ltd has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC on April 28, 2025 [1] - The company is positioned as a leader in digital transformation, focusing on technology optimization services and Web 3.0 activation [2] Company Overview - Trident is based in Singapore and serves as a catalyst for digital transformation, offering digital optimization and technology services globally [2] - The company aims to enhance client experiences by promoting digital adoption and self-service solutions [2] Product Offering - Tridentity is the flagship product of the company, providing a secure blockchain-based identity solution for single sign-on authentication across various industries [3] - The product emphasizes security features to protect sensitive information and mitigate potential threats, contributing to a secure digital landscape [3] Strategic Mission - The company's mission extends beyond Tridentity, aspiring to become a global leader in Web 3.0 activation by connecting businesses to secure technological platforms [4] - Trident focuses on delivering tailored and optimized customer experiences [4]

Financial Performance - The company incurred net losses of approximately US$8.12 million and US$4.77 million in 2024 and 2023, respectively[41]. - The company expects to continue incurring losses in the foreseeable future as it invests in building new solutions and expanding its salesforce[41]. - The company anticipates fluctuations in operating results, making it difficult to project future performance[45]. - The company expects to incur significant additional expenses due to the increased costs of operating as a public company[47]. - For the year ended December 31, 2024, the company generated revenue of approximately US$0.47 million, a decrease from US$1.48 million in 2023 and US$1.26 million in 2022[154]. - The company incurred a net loss of approximately US$8.12 million for the year ended December 31, 2024, compared to US$4.77 million in 2023 and US$1.13 million in 2022[215]. - The company's revenue from IT customization and business consulting has shown a shift in percentage contributions from 77.9% and 21.7% in 2023 to 72.5% and 24.1% in 2024, indicating a potential diversification in revenue streams[215]. Market and Competition - The company faces intense competition in the digital solutions and Web 3.0-enabled e-commerce market, which could limit its ability to maintain or expand market share[36]. - The company’s revenues are primarily generated from clients in e-commerce, food and beverage, fintech, healthcare, and retail industries[26]. - The global market size of Web 3.0-enabled e-commerce is expected to reach US$1,587.4 billion by 2027[153]. - The digital solutions industry in Singapore is highly fragmented, with competition from both international and local companies, necessitating a focus on product innovation and service customization[192]. Strategic Initiatives - The company introduced Tridentity, a Web 3.0-enabled e-commerce platform, in December 2023[28]. - The company aims to expand its Tridentity offerings and build new solutions while adding features to existing services[53]. - The company plans to invest in expanding its direct sales team and online marketing programs[46]. - The company plans to continue investing in the development of offerings through Tridentity to enhance its service portfolio[217]. - The company aims to become a global leader in Web 3.0 activation, connecting businesses to secure technological platforms[215]. Operational Challenges - The company’s operational infrastructure must be improved to support future growth, which may require significant resources[24]. - The company may face challenges in integrating acquired businesses and technologies, which could adversely affect its financial condition[58]. - The company faces challenges in retaining key personnel, particularly senior management, which could adversely affect its ability to execute its business plan[77]. - The company may incur significant costs to attract and retain qualified personnel, impacting its ability to deliver solutions and services effectively[78]. Financial and Legal Risks - The company may need to raise additional capital through equity and debt financings to fund operations[44]. - The company is exposed to interest rate risk, which could impact its ability to maintain current financing and obtain additional financing[51]. - The company is subject to legal proceedings that could materially affect its business and financial condition[80]. - Political and economic uncertainties in jurisdictions of operation may adversely impact the company's financial performance and future growth[83]. Technology and Security - The company generates and processes a large amount of personal data, and any security breaches could have significant reputational and financial consequences[66]. - Cybersecurity risks pose a significant threat to operational systems and customer data, with potential material impacts on business operations and financial results[75]. - The company must continuously enhance its solutions to keep pace with technological changes and client needs[32]. - Tridentity incorporates blockchain technology to enhance transparency and security, providing tamper-proof records and improving customer trust in transactions[180]. Corporate Governance - The company has a dual-class share structure, with Class A shares having 60 votes per share and Class B shares having 1 vote per share, concentrating voting power significantly[89]. - As of the date of the annual report, the founder beneficially owns approximately 8.13% of total issued shares but holds 84.14% of the voting power due to the dual-class structure[90]. - The company is incorporated under Cayman Islands law, which may limit shareholders' ability to protect their interests compared to U.S. companies[111]. - The deposit agreement allows the company to amend terms without prior consent from ADS holders, potentially affecting their rights[108]. Internal Controls - The company has identified two material weaknesses in internal control over financial reporting, including insufficient accounting staff and lack of robust financial reporting policies[133]. - Remediation initiatives for the identified weaknesses are estimated to take 12 to 18 months, with no significant incremental costs expected[134]. - The company plans to hire additional accounting staff with U.S. GAAP experience to improve financial reporting and internal controls[137].