TAIPEI, Taiwan – May 12, 2025–The leading provider of online identity authentication security—Lydsec Digital Technology (d.b.a. Keypasco) (‘Lydsec’, Taipei Exchange stock code: 7834), will register on the emerging stock market on May 13, 2025, with a reference price of NT$58 per share. With its proprietary R&D technology, Lydsec Digital offers a diverse range of online identity authentication software systems and application solutions. Its primary products include the Keypasco series of authentication solutions, such as Zero Trust Network Access (ZTNA), Multi-Factor Authentication (MFA), and FIDO, which are designed to protect user privacy while offering ease of use and high security across various applications.
Lydsec Digital has a paid-in capital of NT$164 million, with Concord Securities serving as the lead underwriter. In 2024, the company not only consolidated its position in the Taiwan market but also expanded overseas, penetrating markets in Japan, Europe, the Middle East, and India. As a result, overseas revenue accounted for about 70% of its total business. Products such as MFA and Zero Trust solutions have garnered significant interest from financial institutions and government agencies worldwide. Lydsec Digital’s consolidated revenue in 2024 reached NT$110 million, representing a 69% increase compared to the previous year. This growth has led to profitability, with a net profit after tax of NT$15.42 million and an EPS of NT$1.15.
Lydsec Digital emphasized that global patent deployment is a key competitive advantage in the cybersecurity industry. The company’s innovative multi-factor identity authentication systems have been granted six international patents across 16 countries, including the U.S., Japan, Taiwan, South Korea, the EU, China, and Singapore. These patents cover:
- Device Fingerprints and Geo-Location integrated with a risk management engine and two-channel authentication.
- Proximity authentication.
- Centralized PKI storage solutions.
- Dynamic URL links.
- Key management systems.
In recent years, governments worldwide have been actively promoting Zero Trust Network Architecture (ZTNA). Taiwan’s Institute for Information Industry under the Ministry of Digital Affairs has, since 2022, required Grade A agencies to gradually implement three core components of the zero-trust architecture: identity verification, device verification, and trust inference. It has also encouraged companies to obtain product functionality verification to ensure policy implementation. Lydsec Digital was among the first to pass both phases of the Institute’s zero-trust product functionality verification.
Since its inception, Lydsec Digital has focused on serving heavily regulated financial sectors. Its clients in Taiwan include over ten financial institutions, such as Hua Nan Bank and Taiwan Cooperative Bank. Globally, it has over 10 million active users, with applications spanning finance, government, real estate, e-commerce, EV charging, gaming, and healthcare. In response to rapid advancements in generative AI, Lydsec Digital continues to develop Keypasco-branded cybersecurity products that balance usability and security, catering to global market demands.
According to MarketsandMarkets Research Ltd., the global MFA market size is projected to grow from $15.2 billion in 2023 to $34.8 billion in 2028, highlighting the increasing need for identity security. Lydsec Digital’s Keypasco solutions offer multiple authentication factors, such as device authentication, geo-location, NFC/BT proximity authentication, visual signatures, and private key security (PKI Sign). Its proprietary two-channel authentication and smart risk management engine safeguard online identity and transaction security across diverse application scenarios.
With rapid growth in emerging overseas markets, Lydsec Digital’s 2024 overseas revenue was 2.5 times that of Taiwan. Its customers span the Middle East, Europe, and the Asia-Pacific, with over 10 million end users in industries ranging from banking and government to e-commerce and smart buildings. With a client renewal rate exceeding 90% over the past decade and the addition of enterprise customers from Japan, India, the Middle East, Europe, the U.S., and Latin America, the company is poised for sustained growth.
Media Contact:
- Spokesperson: Ms. Hsin-Yi Lin, General Manager, Lydsec Digital
Phone: +886 (2) 2346-3366
Email: ir@lydsec.com - Media Relations: Ms. Sarah Liu, Public Relations, Time PR
Phone: +886 (2) 2536-1237
Email: sarahliu@time-ir.com.tw
About Lydsec Digital:
Lydsec Digital Technology specializes in the development of innovative online identity authentication and management technologies. Headquartered in Taiwan, it has subsidiaries in Sweden, the Netherlands, Japan, the U.S., and India, with distribution partners in 24 countries. Its primary services include Keypasco multi-factor authentication, serving clients in diverse sectors such as finance, government, e-commerce, smart buildings, manufacturing, online gaming, healthcare, and EV charging.
For more information, visit Lydsec Digital’s website.
Disclaimer:
This document and accompanying materials contain forward-looking statements regarding Lydsec Digital’s future operations, events, and prospects. Actual outcomes may differ significantly due to factors beyond the company’s control, such as market dynamics, regulatory changes, and economic conditions. These statements reflect current expectations and are not subject to future updates.
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