MagicCube announced that it raised $10 million in new committed funding to expand its software-based security technology beyond tap-to-phone payments into biometrics, identity verification, and AI-driven device security, with strategic participation from Verifone alongside existing investors. The California-based company develops Software Defined Trust, which uses a software Trusted Execution Environment to deliver hardware-grade security on standard mobile and IoT devices without specialized chips, supporting secure payments and sensitive data processing. The funding will be used to accelerate R&D, strengthen AI security capabilities, and deepen integrations across global payment and identity ecosystems, as MagicCube positions its platform for broader digital commerce and compliance-driven use cases.
