SANTA CLARA, Calif., May 29, 2019 (GLOBE NEWSWIRE) -- MagicCube, the creator of the world’s only Software Trusted Execution Environment platform has achieved certification as a software based Trusted Execution Environment. The certificate was issued by EMVCo, the consortium owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa.
MagicCube CTO and Co-founder Nancy Zayed said, “We have been hard at work for the past two years developing this entirely new category in an industry where standards have been dominated by hardware.” She added, “We are proud to lead a category that will shift the security of mobile and IoT devices into a whole new paradigm we like to call Software Defined Trust (SDT).”
Achieving the security requirements of a trusted execution environment in pure software for the first time is expected to disrupt a huge market currently dominated by large security chip vendors and SIM card manufacturers.
MagicCube’s PIN-on-Glass is one product that is built on top of the new platform that allows secure input of sensitive data on a touch screen, a task previously limited to dedicated hardware with physical keypads, such as ATMs and other cash register payment devices.
“As always, when software replaces hardware, everything becomes downloadable and upgradable, which allows the market to grow exponentially. This is akin to upgrading from DVDs to Netflix,” said Sam Shawki, CEO of MagicCube.
After being named to Network World’s ‘10 Hot IoT Startups to Watch’, Forbes Top 25 IoT Startups To Watch In 2019, getting named Cool Vendor in Security and Risk Management by Gartner, and partnering with the PCI Security Standards Council. MagicCube is positioned to lead the Software Defined Trust (SDT) category disrupting the current dominance of hardware-based security.
Brightsight, the Netherlands-based lab accredited by EMVCo and PCI, conducted this industry-first certification.
MagicCube is leading the Software Defined Trust (SDT) category with its software TEE-based platform. The technology enables large-scale deployment and management of IoT and mobile-secure solutions to consumers. For more information, visit www.magiccube.co
EMVCo facilitates worldwide secure interoperability and acceptance of payment and digital transactions.
* EMV is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.