Identity service provider Verimi to cease operations by end of 2026
Berlin-based digital identity provider Verimi has announced it will close its business by late 2026 due to shifting regulatory landscapes.
Verimi GmbH has confirmed it will shut down operations by the end of 2026. The decision follows a strategic reassessment by shareholders regarding the future of the digital identity market. Despite the company achieving profitability in 2024, management stated that the business environment has changed significantly, making continued operations untenable.
The firm cited the updated eIDAS regulation and the European Union’s push for a standardized EUDI wallet as primary drivers for the exit. Furthermore, increasing regulatory requirements, such as the European Anti-Money Laundering Regulation (AMLR), have raised the barrier for entry and maintenance in the sector. These factors have forced a re-evaluation of the firm’s competitive prospects.
Launched in 2018 by a coalition of German corporations, Verimi initially focused on providing digital identity wallets for banks and public services. It later expanded into e-signatures and health-ID services for various statutory health insurance providers. Verimi has committed to maintaining all existing services without interruption until the final shutdown date in 2026.