Latest news with #Quantix
Yahoo
03-07-2025
- Business
- Yahoo
SEALSQ Corp Announces H1 2025 Preliminary Revenue and Other Key Financial Metrics: Updates on Planned Deployment of Post-Quantum Security Solutions by 2025 Year-End
Geneva, Switzerland, July 03, 2025 (GLOBE NEWSWIRE) -- Announces FY 2025 revenue guidance of between $16.0 million to $20.0 million, representing year-on-year growth of 45% - 82% New Quantum Resistant Chip Offering, Quantix Edge Partnership and IC'ALPS ASIC Acquisition to Drive 2026 Revenue Surge and Global Expansion SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, today reports its preliminary unaudited financial metrics for the six-month period ended June 30, 2025 (H1 2025). The Company also updates on its transformative operational milestones, announces initial FY 2025 revenue guidance and reaffirms outlook for 2026 and beyond. H1 2025 Key Financial Metrics Revenue: H1 2025 preliminary unaudited revenue of $4.8 million, was in line with H1 2024 and, as anticipated, reflective of the continued transitional period as the strategic pivot from legacy products to next-generation post-quantum semiconductors and software solutions continues. Cash Position: Bolstered cash reserves of $120 million as of June 30, 2025, up from $19 million compared to June 30, 2024, and $85 million compared to December 31, 2024, provides substantial liquidity to fuel PQC innovation and global expansion. Announces Initial Full Year 2025 Revenue Guidance and Growth Catalysts 2025 Full Year Outlook: The Company anticipates full year 2025 revenue to be in the range of $16.0 million to $20.0 million, representing year-on-year growth of between 45% and 82%. This full-year outlook is based upon our best estimates of the timing of the completion of the IC'ALPS acquisition as well as the start date for the Quantix Edge project. 2026 and Beyond: The Company expects 2026 will be a period of further growth, fueled by several new revenue streams including a full year of revenue relating to the IC'ALPS acquisition, the commencement of the Quantix Edge project, and the revenues from the launch of the TPM Post-Quantum resistant chip. SEALSQ plans to disclose expectations as this business continues to evolve but it currently expects 2026 to reflect similar year-on-year revenue growth in the 50% to 100% range. Business Pipeline: The Company's new business pipeline continues to grow and is now standing at $145 million of revenue opportunities with both current and prospective clients for the period 2026 to 2028 (as of July 3, 2025). This is driven by surging demand for quantum-resistant security solutions and sovereign semiconductor design expertise. Carlos Moreira, CEO of SEALSQ, commented: 'While H1 2025 marked the expected continuation of a transitional period as we aligned our portfolio with the post-quantum era, H2 2025 will be a pivotal inflection point for SEALSQ. With clear visibility into our current business and growth drivers, we expect our second half of the year to be substantially stronger than the first half in terms of revenue. Thus, for the second half of 2025, we expect revenues of between $11 million and $15 million, fueled by major commercial projects and the consolidation of some revenues relating to IC'ALPS.' Mr. Moreira added, 'With standard QVault TPM and custom ASICs solutions, and our expanding network of Test and Personalization Centers, we are laying the foundation for important growth in 2026. Although we do not expect our Spain-based Personalization Center project to be fully activated so as to have a significant impact on our 2025 revenue, we believe it will act as a catalyst for 2026, and we expect it to generate significant revenues that year. These factors, combined with our global PQC leadership, position SEALSQ for accelerated growth in 2026. We stand at a pivotal moment in the evolution of digital trust — where semiconductor security-based solutions and quantum-resistant technologies are becoming the backbone of a digital world that is secure, connected, and built for a better future.' Strategic Milestones Achieved in H1 2025 IC'ALPS Acquisition progress: in May 2025, SEALSQ signed the Share Purchase Agreement with Doliam to acquire IC'ALPS, a French ASIC design company and official partner of Intel Foundry, TSMC, and GlobalFoundries. The acquisition will bolster SEALSQ's custom chip and IP development capabilities, reinforcing its leadership in building a PQC-focused hardware ecosystem. The closing of the acquisition is subject to the French government approval, expected on or before August 15, 2025. Of note, for H1 2025, IC'ALPS generated an estimated unaudited French GAAP revenue of approximately $4.0 million, which is not included in the SEALSQ revenues for H1 2025. Quantix Edge Partnership: As recently communicated, the Government of Spain has announced the launch of Quantix Edge project through the Spanish Society for Technological Transformation. The total investment amounts to EUR 40 million, of which SEALSQ, in conjunction with its parent WISeKey, is contributing approximately 25%. SEALSQ will provide additional updates regarding the Quantix Edge project following the establishment of the Spanish entity which is estimated to be completed in early Q4 2025. ASIC Partnership: A multi-million-dollar custom ASIC development leveraging the QS7001 architecture, is on track to close by Q4 2025 with a leading technology company. First Investment in ColibriTD & QaaS Offering: SEALSQ has completed a first investment in ColibriTD, a Quantum as a Service company. The initiative is part of SEALSQ's previously announced $20 million budget allocated to invest and develop technological synergies with Quantum companies to offer a full panel of Quantum related services in applications like Automotive, Medtech, Space etc. QUASARS Program: Engineering samples of the QS7001™ post-quantum microcontroller already delivered to initial partners in Q2 2025, with production samples and development kits scheduled to be shipped to customers at the end of Q3 2025, and initial revenues expected in 2026. QVault TPM Commercialization: Customer sampling is anticipated to begin in Q4 2025, with initial revenue expected in 2026. Strategic Investments Fueling Growth Recent capital infusions have strengthened SEALSQ's financial position, and enabled the accelerated development of its post-quantum chip portfolio, strategic investments like the acquisition of IC'ALPS SAS for a fixed purchase price of EUR 12.5 million and the $10 million investment in for quantum-resilient satellite communication, and the progression of its global Design & Personalization Centers through the recently announced Quantix Edge Security project. Combined with a robust cash reserve of $120 million as of June 30, 2025, these funds well-position SEALSQ to capitalize on opportunities arising from the growing demand for quantum-resistant technologies and drive commercialization in H2 2025 and beyond. Market Valuation and Strategic Potential Quantum and post-quantum technology companies often command high valuations despite low current revenues because their value lies in future strategic potential. Like the internet and mobile revolutions, quantum computing and cryptography are seen as platform shifts that will transform industries such as cybersecurity, defense, healthcare, and finance. Governments are prioritizing quantum-secure infrastructure for national security and digital sovereignty, making post-quantum firms attractive strategic assets regardless of current income. These companies typically face long R&D cycles, but their intellectual property, research partnerships, and leadership in emerging standards (e.g., NIST's Kyber and Dilithium) are seen as major future revenue drivers. The market is expected to follow a winner-takes-most dynamic, with early leaders securing dominant positions. As large enterprises begin migrating to post-quantum cryptography (PQC), a 'gold rush' effect is underway, with buyers seeking early access to scalable, quantum-ready solutions. SEALSQ Post-Quantum Chips: Pioneering Quantum-Resilient Security SEALSQ's post-quantum chip portfolio, including the QVault™ Trusted Platform Module (TPM) and QS7001™ hardware platform, leads the industry in delivering hardware-based solutions to counter quantum computing threats. Designed for critical sectors like defense, IoT, satellites, and automotive, these chips ensure long-term data protection against 'harvest now, decrypt later' risks. 'Our post-quantum chips are meant to be the backbone of tomorrow's secure, connected ecosystems,' said Jean-Pierre Enguent, CTO of SEALSQ. 'With QVault TPM and QS7001, we are empowering industries to stay ahead of quantum vulnerabilities.' Key Features and Benefits: Advanced Certifications: Achieve FIPS 140-3 and Common Criteria EAL5+ standards, providing tamper-resistant environments for cryptographic operations. NIST-Approved Algorithms: Embed ML-DSA-87 (Dilithium) for digital signatures and ML-KEM-1024 (Kyber) for key encapsulation, offering AES-256-equivalent security. Broad Application Support: Enable secure firmware signing, device authentication, and key management for drones, smart cities, WISeSat satellites, and V2X automotive systems. Customizable RISC-V Platform: QS7001 supports tailored firmware and ASIC designs, allowing customers to develop application-specific quantum-resistant solutions. Positioned for a Quantum-Resilient Future As quantum computing advances, SEALSQ is at the forefront of countering 'harvest now, decrypt later' threats. The Company's early adoption of NIST-approved algorithms, leadership in RISC-V secure microcontrollers, and strategic partnerships in drone security, automotive systems, and sovereign identity infrastructure solidify its role as a critical enabler of cybersecurity. SEALSQ's roadmap aligns with emerging mandates, including the EU Cyber Resilience Act and the U.S. Cyber Trust Mark, positioning it as a trusted partner for governments and enterprises worldwide. For further details on SEALSQ's financial performance and strategic initiatives, visit SEALSQ:SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit Forward-Looking StatementsThis communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. SEALSQ MoreiraChairman & CEOTel: +41 22 594 3000info@ SEALSQ Investor Relations (US)The Equity Group CatiTel: +1 212 836-9611 lcati@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-06-2025
- Business
- Yahoo
The Ministry for Digital Transformation and Public Administration of the Government of Spain has announced an investment of €19.6M in Quantix to Establish a Cybersecurity and Microelectronics Center in the Region of Murcia
The Ministry for Digital Transformation and Public Administration of the Government of Spain has announced an investment of €19.6M in Quantix to Establish a Cybersecurity and Microelectronics Center in the Region of Murcia The Ministry for Digital Transformation and Public Administration announced its participation in Quantix Edge Security through the Spanish Society for Technological Transformation (SETT), alongside Murcia-based companies OdinS and TProtege, Swiss-based company WISeKey, and France-based company SEALSQ Geneva, Switzerland, June 17, 2025 – WISeKey International Holding Ltd ('WISeKey') (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that the Government of Spain has announced its investment of €19.6M in Quantix to Establish a Cybersecurity and Microelectronics Center in the Region of Murcia. WISeKey expects to issue a press-release detailing the project shortly. A free translation of the Spanish language announcement by the Spanish Ministry for Digital Transformation and Public Administration is set forth below. 'The Council of Ministers announced today, the launch of Quantix, an ambitious public-private joint venture with a total investment of €40M. The venture includes OdinS, a spin-off from the University of Murcia, Murcia-based TProtege, and Switzerland-based WISeKey and France-based SEALSQ, both listed on NASDAQ. Quantix will develop a Semiconductor Design and Personalization Center in the Region of Murcia with advanced capabilities in cybersecurity, post-quantum technology, AI, and RISC-V systems. The investment, driven by the Ministry for Digital Transformation and Public Administration, exceeds €19.6 million and will be managed through SETT (Spanish Society for Technological Transformation), a recently established public entity created by the Government of Spain to invest in and support strategic and emerging projects that advance Spain's technological transformation. This project, which began gaining public traction in February 2024, has now culminated with the approval of the Spanish Government's financial backing. Quantix represents a strategic international public-private alliance aligned with the European Union's digital transformation and technological sovereignty plans, addressing the critical challenge of cybersecurity in an ultra-connected world. Quantix projects the creation of 40 jobs in the first two years, 70 in the third year, and 152 by the fifth year, with a goal of reaching 250 employees by the eighth year. The initiative aims to foster high-quality employment, research, and technology in the Region of Murcia, with a plan to attract both regional and international talent. The establishment of Quantix Edge Security will centralize part of the value chain in a single location in the Region of Murcia, reducing reliance on non-European suppliers for microchip design and manufacturing. Due to cybersecurity regulations being standardized by national agencies, Quantix's target market focuses on post-quantum-resistant products, which, by 2030, will be essential for governmental applications such as passports and defense, as well as sensitive private-sector applications. This project has been supported from its inception by María González Veracruz in her various roles, both at the Secretary of State for Telecommunications and Digital Infrastructures and currently at the Secretary of State for Digitalization and Artificial Intelligence. She has repeatedly emphasized the importance of aligning this project with the financial instruments of the Strategic Project for Economic Recovery and Transformation in Microelectronics and Semiconductors (PERTE Chip), promoted by the Government of Spain. José Trigueros, founder and CEO of OdinS and TProtege, celebrates the launch of Quantix, an ambitious project that aims to position the Region of Murcia as a benchmark for innovation, microelectronics, and technological sovereignty, establishing the region as a new international hub for the development of secure microchips. This will lead the transition toward a resilient digital ecosystem that minimizes external dependencies in a shifting geopolitical landscape. Carlos Moreira, Founder and CEO of WISeKey and SEALSQ, stated: 'I extend my heartfelt congratulations to the Government of Spain and the Region of Murcia for this ambitious and strategic initiative, which not only strengthens national cybersecurity capabilities but also positions the region as a European leader in the development of key technologies such as post-quantum semiconductors.' Both leaders agree that the challenge ahead is immense, but so is the positive impact they aim to achieve. 'We will create jobs, attract talent, develop cutting-edge technology, and place Murcia and Spain on the European map for semiconductors and cybersecurity,' they affirmed. Collaborations with research centers, technology hubs, and regional universities, particularly the University of Murcia (UMU), which has extensive experience in cybersecurity and has participated in numerous security projects over the past two decades, strengthen the scientific capacity of the proposed ecosystem. SEALSQ and WISeKey bring robust international expertise in cybersecurity and post-quantum semiconductor projects, developing advanced solutions for strategic sectors such as defense, healthcare, IoT, and aerospace. SEALSQ designs quantum-resistant microcontrollers and ASICs, integrating NIST-standard post-quantum algorithms such as Kyber, Dilithium, and Falcon, and collaborates with excellence centers like Mines Saint-Étienne in France. It is one of the few companies worldwide producing semiconductors specifically designed to withstand quantum threats, with its technologies embedded in over 1.75 billion devices globally. WISeKey complements this capability with its global digital identity and PKI (Public Key Infrastructure) infrastructure, including post-quantum trust roots, secure electronic voting systems, IoT devices, and certified blockchain platforms. Together, both companies have created a comprehensive and sovereign digital security ecosystem capable of protecting critical infrastructure against emerging quantum threats, offering end-to-end solutions from chip to cloud, including authentication, encryption, identity, and data protection. It is worth noting that OdinS, alongside WISeKey International Holding and SEALSQ, is involved in various international initiatives, such as European (ETSI EN 303 645) and U.S. (NIST IR 8425) regulations, which mandate digital identity for connected devices, as well as IoT lifecycle security management systems and certification processes for system security. The latest projects by OdinS in RISC-V, SEALSQ in post-quantum chips, and WISeKey in secure elements and trust roots will enhance technological and commercial synergies, combining two decades of expertise in IoT and Solutions (OdinS), founded in June 2014, is accredited as an innovative ICT company (EIBT) by MINECO and ANCES. OdinS specializes in IPv6 Internet of Things, Big Data, and Security. Its team has extensive experience and strong research, innovation, and technological development capabilities in integrated IoT systems and Big Data platforms for water/energy efficiency, security, and remote infrastructure management. OdinS holds several patents in monitoring and telecontrol systems. The company offers open, flexible, and interoperable products capable of connecting infrastructures and mobile platforms for Smart Cities, infrastructure, defense, and Smart Agriculture. Since its inception, OdinS has focused on IoT system security certification solutions and, more recently, on developing RISC-V-based systems, a cutting-edge European technology for open systems aligned with the new requirements set by European initiatives such as NIS2 and the Cyber Resilience Act (CRA). OdinS's multidisciplinary and entrepreneurial team works daily to address the challenges of an increasingly connected and technological society. OdinS is a member of the International IoT Forum and AIOTI (Alliance for Internet of Things Innovation) and actively participates in standardization working groups on Smart Cities, Architectures, and Standards. Specifically, OdinS collaborates with ETSI (European Telecommunications Standards Institute) in the ISG CIM (Cross-Sector Context Information Management) industry standardization group to design interoperable interfaces between IoT devices and Big Data platforms. OdinS views collaborative R&D projects as the best investment for achieving more competitive products and solutions. For more information, visit TProtege has a significant regional presence in the security and control systems market, with a strong focus on applying the latest technologies to deliver tailored solutions and superior customer service. It aspires to be a benchmark for integrated ICT solutions in the audiovisual sector, particularly in security and control. TProtege is a leader in technology-based systems, offering audiovisual engineering, surveillance, environmental monitoring, access control, and logistics security services. For more information, visit About SEALSQ:SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit About WISeKey WISeKey International Holding Ltd ('WISeKey', SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) Corp which focuses on trusted blockchain NFTs and operates the marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN subsidiary contributes to WISeKey's mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company's semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey's strategic direction and its subsidiary companies, please visit DisclaimerThis communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act ('FinSA'), the FinSa's predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of and Investor Contacts WISeKey International Holding LtdCompany Contact: Carlos MoreiraChairman & CEOTel: +41 22 594 3000info@ WISeKey Investor Relations (US) The Equity Group CatiTel: +1 212 836-9611 lcati@
Yahoo
16-06-2025
- Business
- Yahoo
Quantix SCS, LLC, a Leader in the Chemical Space, announces opening of Port Allen, LA location
Quantix unveils its new location, supporting tank wash, dry bulk, and liquid solutions. HOUSTON, June 16, 2025 /PRNewswire/ -- Quantix, North America's leading supply chain services company to the chemical industry, announces the opening of their new Port Allen, Louisiana location. Located at 1737 Highway 190, Port Allen, LA, broadens Quantix's already expansive network. The Port Allen location boasts a state-of-the-art tank wash facility, and full-service maintenance facility featuring trailer service and repairs for wash customers. "Expanding our network to better serve our customers is always front of mind for us at Quantix," says John Labrie, CEO & president at Quantix. "The key success metric for our customers has always been access to locations and services that allow them to move their products safely and efficiently. This location's tank wash allows just that by reducing turn-around time for trailing assets" says Labrie. The opening of this facility brings with it 15 jobs and has the capacity to wash over 30 trailers a day. Uniquely, Quantix also offers the ability to wash tanks for carriers outside of their network. The facility is equipped to provide tank wash services for general chemicals and more. About Quantix Quantix is the leading supply chain services company to the chemical industry. It provides the world's largest chemical providers with end-to-end support through a nationwide network and comprehensive suite of services including transportation, 3PL solutions, distribution centers, export/import, in-plant and resin enhancement services, and Eco-Recovery. Headquartered in The Woodlands, TX with over 80 locations across the U.S., Quantix is committed to providing the highest level of safety, quality, compliance and integrity across its entire operation. Learn more at View original content to download multimedia: SOURCE Quantix Sign in to access your portfolio
Mid East Info
14-05-2025
- Business
- Mid East Info
Botim Officially Launches ‘Send Now, Pay Later' Feature to Enhance Financial Flexibility for UAE Expats - Middle East Business News and Information
Dubai, United Arab Emirates: Astra Tech, the UAE-based consumer technology holding group, has announced the launch of the 'Send Now, Pay Later' (SNPL) feature within its Botim Ultra App. This feature enables users to instantly remit up to AED 5,000 to over 200 countries, offering them the flexibility to repay over a period of six months. SNPL is designed to address urgent financial needs and enhance remittance accessibility, particularly for expatriates in the UAE who may face challenges accessing formal credit systems. The feature provides users with a secure, deferred payment mechanism for international transfers, directly embedded within the Botim experience. The SNPL feature comes at a time of significant growth in the digital remittance sector. With the UAE's digital remittance market projected to reach $1.5 billion by 2030, Botim's SNPL feature is well-positioned to play an integral role in shaping this evolution. It reinforces Botim's position as a key enabler of accessible, tech-driven financial solutions, aligning with the UAE's broader digital economy ambitions. 'The introduction of the 'Send Now, Pay Later' feature on Botim marks a significant step in our mission to enhance financial inclusion in the UAE,' said H.E. Dr Tariq bin Hendi, CEO and Board Member of Astra Tech and Botim. 'By offering a secure, flexible remittance solution, we are meeting the real financial needs of the expatriate community, empowering them to support their families. This innovation aligns with the UAE's broader commitment to foster financial inclusion and literacy, positioning the nation as a global leader in inclusive growth and sustainable development.' While the concept was initially announced in 2024, the official launch is backed by a Finance Company License granted to Astra Tech's Quantix subsidiary by the Central Bank of the UAE (CBUAE). The rollout reflects strong user interest and Astra Tech's continued focus on delivering embedded financial services that respond to evolving consumer needs. The feature was unveiled at the Dubai Fintech Summit 2025, further reinforcing Astra Tech's role in shaping the future of integrated fintech offerings in the region. This latest feature is a key step in Botim's mission to transform into an ultra-app delivering more than just messaging services. With features like SNPL, Botim is advancing financial empowerment by expanding access to flexible and embedded remittance options for underserved users. About Astra Tech: Astra Tech is the leading consumer technology holding group in the MENA region, focused on transforming everyday services through its Ultra app. The group's portfolio includes PayBy, Botim, and Quantix. PayBy holds Stored Value Facility (SVF) and Retail Payment Services (RPSCS) licenses, further solidifying Astra Tech's position in the financial technology sector. Quantix is the first fintech in the UAE to receive a Finance Company License from the Central Bank of the UAE (CBUAE) since 2008. The Ultra app, developed under Botim, operates in 155 countries, serves over 150 million users, providing more than just free VoIP calling and has also integrated services such as international money transfers, bill payments, and UAE visa services. Astra Tech is committed to advancing technology and enhancing user experience across the region.
