Dentity acquires Trinsic's decentralised identity assets

Trinsic’s technology has been used by developers worldwide to integrate user-controlled identity features into their platforms. This acquisition aligns with Dentity’s strategy to expand its role in the growing decentralised identity market. Officials from Dentity explained the significance of the acquisition, emphasising its potential to reshape how individuals manage and share personal data online. According to them, the move aligns with Dentity’s mission to provide consumers with greater control over their digital identities, fostering a safer and more secure online environment. 

Representatives from Trinsic noted that Dentity has been the most successful application built on Trinsic’s platform. They expressed confidence that Dentity’s existing partnerships and user base would amplify the impact of Trinsic’s technology, extending its reach to a larger audience.

Addressing a growing demand for digital identity 

The acquisition comes at a time when the need for secure digital identity solutions is becoming increasingly urgent. According to decrypt.co, rising online fraud and identity theft underscore the risks of online anonymity. Reports indicate significant increases in online grooming crimes (up 89%) and romance scams (up 160%). Decentralised identity systems offer a way to address these challenges by enabling consumers to share only necessary information securely. 

Dentity has also joined Trinsic’s Identity Acceptance Network, which supports digital IDs in Web3 wallets, mobile driver’s licences, and eID applications. This network integration allows 100 million consumers instant access to Dentity’s ecosystem, aiming to strengthen its position in the market. 

Analysts predict continued growth in digital identity adoption. By 2026, Gartner estimates that 500 million smartphone users will regularly use digital identity wallets, reflecting a shift in consumer expectations for greater control over personal data. 

Decrypt.co further reveals that the market for digital identity is projected to reach USD 325 billion by 2027. Dentity’s acquisition of Trinsic’s assets positions it to tap into this expanding market by offering scalable, reusable digital identity solutions. The company aims to address growing consumer dissatisfaction with data management practices by large tech companies, with surveys showing over 75% of individuals distrust such entities with their personal information.