HUB Cyber Security Signs $25M Annual Agreement To Provide Perpetual KYC And Compliance Services For Kyrrex, Jointly With A Large Crypto Merchant Vendor Ahead Of Their Merger

HUB Cyber Security Ltd. (NASDAQ:HUBC) ("HUB" or the "Company"), a leading provider of AI-driven compliance technology and core banking platforms, announced today the signing of a perpetual KYC and compliance services agreement with Kyrrex, a global crypto ecosystem and digital asset exchange, jointly with a large crypto merchant vendor, serving as a premier cryptocurrency payments gateway, in connection with the planned merger between Kyrrex and the crypto merchant vendor (the "Agreement").

Under the Agreement, HUB will deliver its flagship Perpetual KYC ("PKYC") solution, which features continuous, automated monitoring, management and verification of customer identities, along with horizon scanning regulatory intelligence, automated risk scoring, and data fabric based integration services. The PKYC engagement under the Agreement is priced according to an annual recurring basis and is anticipated to cover approximately 1.2 million to 1.5 million customer entities, translating 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, the rollout of a Unified KYC Secured Fabric for day one cost synergy capture, and ongoing Horizon Scanning-as-a-Service to keep the merged entity well ahead of evolving MiCA, FinCEN, and FATF requirements.