HUB Cyber Security Ltd. announced on June 18, 2025, the signing of a perpetual KYC (PKYC) and compliance services agreement with Kyrrex, a global crypto ecosystem, and a large crypto merchant vendor. This agreement is in connection with a planned merger between Kyrrex and the crypto merchant vendor.
Under the agreement, HUB will deliver its flagship PKYC solution, which features continuous, automated monitoring, management, and verification of customer identities, along with horizon scanning regulatory intelligence. The engagement is priced on an annual recurring basis and is anticipated to cover approximately 1.2 million to 1.5 million customer entities.
This contract is expected to translate to around US$25 million in recurring annual revenue for HUB, commencing on July 1, 2025. The agreement also provides HUB-led 'Regulatory Readiness Sprints' during pre-close due diligence and ongoing 'Horizon Scanning-as-a-Service' to keep the merged entity ahead of evolving regulatory requirements.
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