Highlights

• Singapore firm secures funds via PIPE transaction led by Chaince Securities.
• Proceeds to support launch of DRCPass, Congo’s national e-ID platform.
• System aims to curb SIM fraud, streamline e-services, boost financial inclusion.

Trident Digital Tech Holdings Ltd said on Sept. 16 it had raised $2.6 million to fund the launch of the Democratic Republic of Congo’s digital ID system. The Singapore-based company said the proceeds, net of costs, will go to the expansion and commercialization of DRCPass.

The system, developed under a public-private partnership with Kinshasa, will make Trident the DRC’s exclusive provider of electronic ID services (e-KYC) which uses Web3-based technologies. The system will enable biometric SIM authentication, and single sign-on access to public services.

The financing was arranged through a Private Investment in Public Equity (PIPE) deal led by Chaince Securities, a unit of Mercurity Fintech Holding. Trident issued Class B shares with reduced voting rights to undisclosed institutional investors. A resale registration statement will be filed with the US SEC.

Authorities say the platform is expected to cut fraud linked to fake SIM cards, expand e-government services, improve access to credit, and serve as a secure complement to physical ID. Before the official launch, DRCPass must clear audits, pilot tests, and a nationwide awareness campaign.