Self-Sovereign Identity (SSI)
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HUB Cyber Security Outlines Visionary HUB Token Roadmap to Enable Frictionless Stablecoin, Crypto, and Remittance Transactions Through Self-Sovereign Identity
Globenewswire· 2025-11-06 14:26
Core Insights - HUB Cyber Security Ltd. is set to launch the HUB Token (HUBT) in Q1 2026, aimed at enhancing its Trvsthub™ platform for digital financial transactions, targeting $1.2 trillion in digital financial transactions [1][10] Market Opportunity - The company aims to tap into the $47 billion global digital identity solutions market, projected to exceed $200 billion by 2034, alongside the $282 billion stablecoin market, $1.7 billion crypto payment gateways sector, and $913 billion global remittances industry [2] Self-Sovereign Identity (SSI) Framework - HUBT will facilitate self-sovereign identity (SSI) for users, transforming compliance-heavy processes into value-generating assets, addressing issues like rising costs, fraud vulnerabilities, and user friction in financial services [3][4] Compliance and Fraud Challenges - Financial institutions face escalating compliance costs, with KYC/AML verification potentially costing up to $30 million annually per institution, and individual reviews costing around $3,000 [4] - Cybercrime is expected to exceed $10.5 trillion globally by 2025, with 79% of organizations reporting payments fraud in 2024 [5] Trvsthub™ Features - Trvsthub™ will decentralize identity management, allowing users to control their data via secure digital wallets, enabling "verify once, reuse everywhere" mechanics for low-friction value transfers [6][7] - The platform will utilize zero-knowledge rollups (ZK-rollups) for credential verification without revealing underlying data, supporting compliant stablecoin issuance and crypto wallet linkages [8] Value Proposition - The three-pillar value proposition includes quantum-resilient security, instant onboarding to reduce verification times, and dramatic cost savings by automating compliance, potentially cutting KYC expenses by up to 80% [13]