Transmute Executes Phase 5 Contract with US DHS S&T Silicon Valley Innovation Program
Transmute Executes Phase 5 Contract with US DHS S&T Silicon Valley Innovation Program
AUSTIN, Texas--(BUSINESS WIRE)--Transmute, a leader in global trade digitalization, proudly announces the launch of their Phase 5 contract with the U.S. Department of Homeland Security (DHS) Science and Technology Directorate’s (S&T) Silicon Valley Innovation Program (SVIP). This achievement follows the conclusion of four prior contracts with the group, whose milestones include successful Red Team security testing and technical demonstration with US Customs and Border Protection (CBP).
Transmute’s Verifiable Data Platform (VDP) makes using digital verifiable credentials easy, enabling the seamless transfer of global trade documents between supply chain actors - from origin to consumer - in near real time. This data flow connects the fragmented and still majorly analog solutions that generate billions of paper documents annually. The manual data management status quo in cross border trade is highly inefficient and leaves brands exposed to costly data administration challenges like data bloat, redundancy, human errors and outright fraud - something Transmute has been working to solve with US CBP since 2019, under their awards for “Verifiable Provenance, Traceability, and Regulatory Compliance for Raw Material Imports.”
The Phase 5 contract represents a significant advancement for Transmute, unlocking the ability to pursue direct contracts beyond CBP, with any of the 22 DHS agencies. With the Phase 5 contract in place alongside the recent commercial launch of the Verifiable Data Platform, Transmute is poised to further extend its trade impact, contributing the data provenance, security and visibility features of verifiable credentials to various departments and sectors.
Karyl Fowler, CEO, says, "Transmute is proud to have reached this significant milestone with the U.S. Department of Homeland Security SVIP Team. This Phase 5 contract not only expands our capabilities but also signifies our dedication to facilitating seamless and secure cross border trade operations for all goods coming into the United States."
