UAE's e& Joins MagicCube's $10M Round to Advance Sovereign-Grade Post-Quantum Security for AI, Identity, and Payments

CUPERTINO, Calif., April 28, 2026 /PRNewswire/ -- MagicCube, the pioneer of software-based security for payments, identity, and digital assets, today announced that e& capital, the investment arm of global technology group e&, has joined its $10 million funding round, marking the second closing of the investment. The partnership underscores a shared mission to deliver sovereign-grade, hardware-free security that strengthens digital trust across devices, clouds, and jurisdictions worldwide.

e& capital joins first-close strategic investor Verifone, a global leader in payments technology, along with existing financial and individual investors, including Bold Capital Partners and Mosaik Partners, among others.

This collaboration comes as nations and enterprises accelerate efforts to secure AI models, digital identities, and cross-border data flows, with the Gulf region emerging as a major hub for AI infrastructure and digital innovation.

"MagicCube is addressing a fast-growing need at the intersection of digital identity, payments, and AI security," said Eddy Farhat, Executive Director, Corporate Ventures at e&. "As more sensitive workloads move across cloud and edge environments, organizations need flexible, software-based security that can support resilience, compliance, and scale. Our investment reflects e& capital's focus on backing technologies that strengthen trusted digital infrastructure and open new opportunities across high-growth markets."

As sovereign funds, telcos, and hyperscalers invest heavily in next-generation compute and data capabilities, MagicCube delivers a neutral, software-first trust fabric that secures critical workloads across regions, devices, and cloud providers. Its platform enhances continuity and resilience, allowing payments, identity, and AI services to remain secure and available as infrastructure routes and regulatory frameworks evolve.

"Following Verifone's support—and at a time when the Gulf is shaping the future of AI and digital infrastructure—having e& in our corner is both a powerful endorsement and a strategic signal," said Sam Shawki, CEO and co-founder of MagicCube. "Together with e&, we're building secure identity and AI rails not tied to any single hyperscaler, hardware vendor, or jurisdiction—giving our partners the confidence to scale globally."

The investment marks a key milestone in the growing role of regional technology champions in defining global standards for AI, cloud, and digital finance. By backing MagicCube's Software Defined Trust (SDT) platform, e& supports a sovereign-ready, hardware-independent security layer that spans multiple environments, aligns with evolving regulatory demands, and gives governments, banks, and enterprises greater control over how and where their critical data and AI models are protected.

MagicCube's SDT platform secures payments, digital IDs, and AI-driven services across smartphones, tablets, vehicles, self-checkout kiosks, and IoT devices. This universal trust layer enables partners to:

"As compute and data become strategic national assets, our mission is to give partners a neutral trust fabric that works with any cloud, any device, anywhere in the world," added Shawki. "With e& at the forefront of this round, we can accelerate that vision alongside the regions investing most ambitiously in the next chapter of AI and digital sovereignty."

For more information, visit www.magiccube.co or contact [email protected].

About MagicCube
MagicCube provides software-based security that protects sensitive data and workloads on devices and in the cloud—eliminating the need for dedicated hardware security modules. Its platform secures payments, digital identity, and AI services for banks, telcos, and enterprises, ensuring resilience and compliance across jurisdictions.

About e&

e& (ADX: EAND) is a global technology group committed to advancing the digital future across 38 countries in the Middle East, Asia, Africa, and Europe. Founded in Abu Dhabi in 1976, e& leverages its five decades' legacy in advanced connectivity to deliver powerful digital solutions that unlock value and drive progress.

For enterprises and governments, e& provides mission-critical infrastructure, including sovereign cloud platforms, data centers, and AI-powered solutions to solve complex challenges and accelerate growth. For millions of customers, the Group brings world-leading connectivity together with digital services across entertainment, fintech, and superapp experiences that enrich daily life.

Driven by innovation and strengthened by global partnerships, e& delivers secure, high-performance technology that strengthens economies and expands opportunity globally.

To learn more about e&, visit www.eand.com

Photo - https://mma.prnewswire.com/media/2965889/MC_eAnd_press_imagepng.jpg