SC Ventures, a subsidiary of Standard Chartered Bank, has partnered with Fujitsu to launch Project Quanta, a joint venture aimed at developing and integrating quantum computing and quantum-inspired applications. The project will provide a platform for clients to rapidly explore, develop, and integrate these technologies. The current quantum development industry is fragmented, with some companies excelling in hardware integration and others in quantum algorithm building tools. By joining forces, SC Ventures and Fujitsu aim to unlock quantum resources and talent on one platform, allowing corporates to scale their quantum capabilities.
The joint venture will leverage Fujitsu’s expertise in quantum computing research and development, as well as its software and algorithm development capabilities. SC Ventures will contribute its venture building prowess and deep insights into financial institutions. The partnership will utilize Fujitsu’s quantum computing technologies, including a 1,000-qubit superconducting quantum computer scheduled to begin operation in 2026, and a planned 10,000-qubit superconducting quantum computer by 2030.
The initial focus of the joint venture will be on developing in-house solutions for financial services use cases, such as fraud detection, risk simulations, derivative pricing, algorithmic trading, and credit decision algorithms. The goal is to expand to multiple sectors in the near future. According to Stafford Bond, Head of Growth Investments at Fujitsu UK, the partnership represents a bold step towards democratizing access to quantum capabilities and realizing true quantum advantage.
Apurv Suri, Client Engagement & Partnerships Lead at SC Ventures, stated that the partnership will accelerate the development of quantum use cases, intellectual property, resources, and value. The joint venture will provide a platform for clients to access quantum resources and talent, allowing them to scale their quantum capabilities and unlock transformative value for businesses. Overall, the partnership between SC Ventures and Fujitsu has the potential to accelerate the practical application of quantum technologies and unlock new opportunities for businesses.