Singapore-based SC Ventures by Standard Chartered Bank, which builds and invests in breakthrough ventures in and beyond banking, together with Fujitsu, a developer of quantum software and hardware, are joining forces to incubate Project Quanta.
The project will integrate multiple software and hardware technologies to provide clients a platform to rapidly explore, develop and integrate quantum computing and quantum-inspired applications, the duo said in a statement on Thursday.
“The current quantum development industry is fragmented with some companies excelling at hardware integration while others are better at quantum algorithm building tools,
“By joining forces with Fujitsu, we want to unlock quantum resources and talent on one platform for corporates looking to scale their quantum capabilities,” said Apurv Suri, Client Engagement & Partnerships Lead, SC Ventures.
The joint venture will leverage Fujitsu’s expertise in quantum computing research and development (R&D) and software-and-algorithm development, together with SC Ventures’ venture building prowess and deep insights into financial institutions to accelerate the development of quantum use cases, intellectual property, resources and value.
It will utilize Fujitsu’s quantum computing technologies which it has been developing through both software and hardware advancements utilizing multiple joint research initiatives.
Based on the collaboration with RIKEN, Fujitsu is currently developing a 1,000-qubit superconducting quantum computer, scheduled to begin operation in 2026.
Looking ahead, Fujitsu is also planning the development of a plus-10,000 physical qubit (250 logical qubit) superconducting quantum computer by 2030.
The joint venture will include in-house solutions development for applications initially focused on financial services use cases such as fraud detection, risk simulations, derivative pricing, algorithmic trading, and credit decision algorithms, with the goal of expanding to multiple sectors in the near future.
“At Fujitsu, we are committed to solving the world’s most complex challenges through innovation and collaboration,” Stafford Bond, Head of Growth Investments, Fujitsu UK, said.
“Partnering with SC Ventures on Project Quanta represents a bold step toward democratizing access to quantum capabilities and realizing true quantum advantage,
“By combining our expertise in quantum technologies and integration with SC Ventures’ deep industry insight and venture building pedigree, we aim to accelerate the practical application of quantum technologies and unlock transformative value for businesses,” he added.