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Ipsidy moves to OTCQX Best Market from QB Venture

Last updated: 22:42 10 May 2018 AEST, First published: 22:09 10 May 2018 AEST

biometric identification using cellphone
CEO sees the change as 'a step towards increasing the liquidity of our stock'

The stock of Ipsidy Inc. (OTCQX:IDTY) has received a big upgrade.

OTC Markets Group Inc. said Thursday Ipsidy has qualified to trade on the OTCQX Best Market. It marks the second time Ipsidy has moved up in the OTC standings, having uplisted to the OTCQB Venture Market in March.

The provider of biometric identification and electronic transaction processing services said it begins trading today on OTCQX, continuing with the symbol "IDTY." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on the OTCMarkets website.

"Congratulations to Ipsidy on upgrading to the OTCQX Best Market," said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group. "We are pleased to see Ipsidy utilize the OTCQB Venture Market to build their company's visibility and graduate to the OTCQX Best Market. We look forward to continuing to support the company and its investors."

READ: Ipsidy Inc. rides the wave of identity authentication

Philip Beck, Ipsidy chairman and CEO, said the company is "delighted to be upgrading to OTCQX."

"As a company, we are committed to providing a transparent market for our investors and maintaining high financial and operating standards," Beck said. "This is a significant milestone for Ipsidy and we believe a step towards increasing the liquidity of our stock."

The Long Beach, NY, company has been on a tear of late, making deals in Zimbabwe and Colombia and rolling out a new biometric authentication app for Apple iPhone and Android smartphones.

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