Singapore-listed Trident acquires 30% stake in Tongxin to expand into Web3 e-commerce

According to Odaily Planet Daily, Singapore-listed Trident Digital Tech Holdings announced that it has acquired a 30% stake in Tongxin Innovation, a Web 3 e-commerce company that operates the Telegram-based e-commerce platform ToMe, for approximately US$3 million. The transaction, completed through the issuance of Trident ADSs, values Tongxin at approximately US$100 million. Trident will integrate its blockchain identity platform, Tridentity, with ToMe to promote the integration of Web 3 e-commerce and digital identity, accelerating the adoption of blockchain applications. (GlobeNewswire)