Trident Digital Tech Holdings Ltd, a Singapore-based leader in digital transformation, has announced a strategic investment in Tongxin Innovation Limited, acquiring a 30% equity stake. The transaction, valued at approximately US$3m, will be completed through the issuance of Trident’s American Depositary Shares (ADSs) to Tongxin’s shareholders. This move underscores Trident’s commitment to advancing blockchain-enabled e-commerce solutions.
Tongxin operates the ToMe Web 3.0 e-commerce platform on Telegram, a messaging service with over one billion users. The platform aims to address traditional e-commerce challenges with its “4F” value proposition: Fair, Fast, Friendly, and Free. This includes a focus on digital property rights, stablecoin settlements, and a community-based ecosystem. Tongxin has also formed strategic partnerships with blockchain projects and real-world asset companies in Southeast Asia.
The integration of Trident’s blockchain-based identity platform, Tridentity, with ToMe’s infrastructure is expected to enhance security and user experience. This partnership will leverage Trident’s presence in high-growth markets like Singapore and Africa to expand ToMe’s reach. Soon Huat Lim, Trident’s CEO, stated, “The synergies between ToMe’s Web 3.0 commerce capabilities and our Tridentity platform create tremendous opportunities for innovation and growth.”
This investment aligns with Trident’s mission to become a global leader in Web 3.0 enablement, potentially accelerating blockchain adoption in mainstream commerce and creating new revenue opportunities.
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