MagicCube Raises $10 Million to Expand Beyond Tap-to-Phone; Adds Verifone as Strategic Investor

Core Insights - MagicCube has raised $10 million in new funding to expand its technology into biometrics, identity verification, and AI-driven device security, moving beyond its initial focus on tap-to-phone technology [1][4] - The partnership with Verifone aims to enhance secure, identity-verified commerce experiences across various digital platforms [4] Company Overview - Founded in 2014 and headquartered in Cupertino, California, MagicCube specializes in Software Defined Trust (SDT), providing hardware-grade protection for mobile devices through software alone [2] - The company's flagship product, i-Accept®, enables mobile devices to function as compliant contactless payment terminals, gaining trust from major financial institutions like JPMorgan Chase and Global Payments [3] Strategic Developments - The new funding will accelerate research and development in software-based trust technologies and strengthen MagicCube's AI security offerings [4] - The integration of MagicCube's technology by Verifone is expected to enhance the digital commerce experience by providing trusted innovation at every step [4]