Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
TEL AVIV - HUB Cyber Security Ltd. (NASDAQ:HUBC), a cybersecurity firm with current market capitalization of $18.69 million and annual revenue of $29.56 million, has appointed Aviv Eyal as Head of its newly formed Digital Asset Infrastructure Division, the company announced Monday.
Eyal brings over 20 years of experience in digital encryption, information assurance and decentralized systems, having previously worked at Spacemesh and Subnet.
The new division will focus on developing secure infrastructure for digital assets, offering solutions including AI-supervised identity systems, secure multiparty computation for custody, zero-knowledge proof compliance infrastructure, and post-quantum encryption hardening.
"This is a natural progression and evolution of our inherent architecture," said Noah Hershcoviz, CEO of HUB. "We’re integrating programmable privacy, AI supervision, and quantum-secure capabilities into a single enterprise-grade platform." According to InvestingPro data, the company faces significant financial challenges, with a current ratio of 0.17 indicating potential liquidity concerns.
The initiative aims to serve financial institutions, banks, and sovereign entities requiring compliant solutions for digital custody and decentralized finance. The division will extend HUB’s existing Secured Data Fabric platform, which is already deployed across banking, defense, and government sectors.
"Institutional Web3 adoption demands infrastructure that is secure by design and intelligent by default," said Eyal.
HUB Security, established in 2017 by veterans of Israeli Defence Forces intelligence units, specializes in secured data infrastructure and confidential computing technologies. The company currently operates in over 30 countries, though InvestingPro analysis shows challenging market performance with a -73% year-to-date return. InvestingPro subscribers have access to 14 additional key insights about HUBC’s financial health and market performance.
The information in this article is based on a company press release.
In other recent news, HUB Cyber Security Ltd. has signed a significant agreement with Kyrrex and an unnamed crypto merchant vendor, expected to generate approximately $25 million in annual revenue starting July 2025. This deal involves providing perpetual Know Your Customer (KYC) and compliance services, with HUB playing a crucial role in the pre-merger due diligence and implementation of a unified KYC system. Additionally, HUB has secured new contracts worth over $1.5 million in the first quarter of 2025, expanding its reach in sectors with stringent data protection needs such as healthcare and financial services.
The company has also regained full compliance with Nasdaq Capital Market listing requirements, following a strategic restructuring and enhanced financial execution. In a move to strengthen its leadership team, HUB has appointed Paul Parisi, former President of PayPal Canada, as Global Chief Revenue Officer, focusing on expanding the company’s presence in North America. Furthermore, HUB has expanded its board by appointing Shlomo Bibas as an Independent Member, aiming to enhance corporate governance amid global expansion efforts. These developments reflect HUB’s ongoing growth strategy and its commitment to delivering secure data management solutions across various sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.