• First successful delivery of quantum tokens using commercial QKD hardware, demonstrating fast transaction verification at the point of exchange – a crucial step toward quantum-enhanced financial security and a major advance for QKD.
• Quantum tokens are designed to provide unforgeability, privacy, and fast settlement, in a single financial instrument. No previous technology can deliver these three combined benefits.
• In the world’s first implementation using off-the-shelf hardware, quantum tokens were transmitted across 10km of fibre in Tokyo, using commercial quantum key distribution (QKD) devices provided by NEC*.
• This is a pivotal step towards the deployment of ultra-high-security quantum tokens in use cases such as tokenized asset security and high-speed trading.

TOKYO and BROOMFIELD, Colo., Nov. 18, 2024 /PRNewswire/ — In a long anticipated trial, Quantinuum (“Quantinuum”, Head Office: Broomfield, Colorado, U.S.A., CEO: Rajeeb Hazra), together with Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) and NEC (“NEC”, Head Office: Tokyo, President and CEO: Takayuki Morita) today announced the successful delivery of quantum tokens across a 10km fibre-optic network in Japan. This is the first time such a delivery has been accomplished.

Quantum tokens are a new financial instrument that take advantage of the properties of quantum physics to meet the robust demands of asset trading without the communication overheads required by traditional financial systems. Quantum tokens are transmitted across fibre-optic quantum key distribution (QKD) networks, which are rapidly expanding around the globe. Today’s announcement with Mitsui demonstrates growing industry recognition of quantum tokens’ potential in financial services.

Ilyas Khan, Founder and Chief Product Officer at Quantinuum, said: “The original motivation for quantum communications was the exchange of money, as envisaged by Stephen Wiesner. Today, we have demonstrated real-world security enhancements for financial systems using off-the-shelf quantum communications hardware. This opens the door to a new era in quantum-enhanced security with wide applicability, providing commercial organisations with something concrete to utilise.”

Koji Naniwada, Deputy General Manager, Quantum Innovation Dept. at Mitsui, said: “Quantum tokens will increase the security of digital assets, while improving transaction performance and maintaining privacy. These topics are critical for our customers and partners in the financial sector and this demonstration is a valuable outcome of our partnership with Quantinuum.”

Naoki Ishida, Director with the Trading and Service Solution Department at NEC, said: “We are the first to provide a platform for realizing a quantum token system using NEC’s quantum key distribution (QKD) devices. Based on the results of this trial between Mitsui & Co. and Quantinuum, we will continue to work towards the social implementation of quantum cryptography technology.”

Quantum tokens are designed to use quantum physics to prevent forgery, while ensuring transactions can be settled near-instantly, whereas traditional payments systems rely on double-entry bookkeeping to prevent double-spending of funds. This adds time, overhead and risk to every transaction, as digital systems are consulted to confirm funds are available and to settle transactions.

Quantum tokens instead rely on the no-cloning theorem of quantum physics to prevent forgeries and double-spending. Only the intended recipient will receive the correct token data, which can only be spent at one location in the future. This enables near-instant transaction settlement by removing the need to check multiple systems or wait for network confirmations.

As demonstrated in Quantinuum’s recent work with HSBC, securing digital assets in the quantum-age is growing in urgency. The financial sector is increasingly looking to quantum technology to solve these complex problems with the power of nature.

Note:

(*) The equipment provided by NEC was partially supported by results from Japan’s Ministry of Internal Affairs and Communications’ (MIC)  “Research and development for construction of a global quantum cryptography network”(JPJ008957) under “R&D of ICT Priority Technology Project” (JPMI00316) and Japan’s Cabinet Office’s “Photonics and Quantum Technology for Society 5.0” project under the Cross-ministerial Strategic Innovation Promotion Program (SIP).

Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.

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The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.

Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

Visit https://www.mitsui.com/jp/en/index.html for more information.

Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.  http://www.quantinuum.com/

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at http://www.nec.com. 

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DUBLIN, Nov. 18, 2024 /PRNewswire/ — Strategic Value Partners, LLC and its affiliates (together, “SVP”), a global alternative investment firm with approximately $19 billion of assets under management, today announced that SVP-managed funds have agreed to acquire Blanchardstown Centre, a prime retail and leisure destination in Ireland.

Blanchardstown Centre is a major retail complex in north-west Dublin, covering 1.2 million square feet and housing over 180 shops and restaurants. With an annual footfall of approximately 17 million visitors and 5,500 parking spaces, it is one of Ireland’s leading shopping destinations. Strategically connected to Ireland’s major motorways, Blanchardstown Centre is well-positioned to continue serving as a premier retail hub for Dublin and beyond.

SVP plans to make significant investments in Blanchardstown Centre, including enhancements to its food and beverage offerings. SVP will work closely with Fingal County Council, existing tenants, and Falcon Asset Management to elevate the centre’s appeal and strengthen its position as a premier retail destination for visitors and tenants alike.

“As a centrepiece in Dublin’s retail sector, we’re excited by the opportunities Blanchardstown Centre presents” said Mike Ungari, Global Head of Real Estate at SVP. “Our goal is to build on the facility’s strengths, and we are committed to ensuring Blanchardstown continues to set the benchmark for retail and leisure excellence in the region.”

With an extensive real estate portfolio built over the past two decades across U.S. and European markets, supported by a dedicated team of 10 professionals, SVP has established itself as a seasoned real estate investor with deep expertise in retail assets and shopping centres. In 2021, SVP funds led the restructuring and subsequent acquisition of Washington Prime Group, a U.S. REIT with a portfolio of approximately 90 retail properties. In 2023, SVP became the largest investor in Intu SGS, a portfolio of four large UK shopping centres, and played a leading role in its restructuring earlier this year. Led by Anders Hemmingsen, SVP’s London-based team is actively seeking to invest in European real estate, and believes it is well positioned to leverage the firm’s differentiated sourcing, investing and operating expertise in the sector this cycle.

The acquisition is expected to complete prior to year-end, subject to regulatory approvals.

For media enquiries:

Greenbrook – James Madsen / Ksenia Galouchko
[email protected]

About SVP

SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $19 billion in assets under management, and since inception, has invested more than $48 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com.

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Quantoz Payments to receive investment from Fabric Ventures, Kraken and Tether

UTRECHT, The Netherlands, Nov. 18, 2024 /PRNewswire/ — Quantoz Payments B.V. (Quantoz), the Netherlands headquartered payments technology company, is pleased to announce that it will start issuing two stablecoins EURQ and USDQ, designed to be MiCAR Compliant, on Monday 18th November.

EURQ and USDQ are respectively euro and US dollar-referenced E-Money Tokens (EMTs), issued on the Ethereum blockchain by Quantoz, an Electronic Money Institution (EMI) authorised and supervised by De Nederlandsche Bank (DNB), the Dutch Central Bank.

The new EMTs will facilitate euro and US dollar transfers and payments in secondary markets as well as transfers across digital asset and crypto exchanges. Fiat-referencing stablecoins on blockchains can enable digital and decentralised payments that are faster, more transparent, secure and cheaper when compared to existing payment infrastructure.

Bitfinex and Kraken, two of the world’s longest standing and most secure crypto-asset exchanges, plan to be the first to list EURQ and USDQ for trading to eligible clients on Thursday 21st November. 

Arnoud Star Busmann, CEO of Quantoz Payments, said:

“We are thrilled to bring to market truly European-native stablecoins, available on respected venues for European consumers and corporations, issued by a company with its roots in the Netherlands, one of Europe’s leading fintech jurisdictions. The MiCA regulation brings a new level of trust to digital assets markets, not least through its prudential requirements on the issuers of stablecoins. As the world of payments becomes more digital, having well-regulated, transparent and fully backed stablecoins is critical to enabling faster, cheaper and more secure settlement within the world’s largest single market.”

A group of investors including Fabric Ventures, Kraken and Tether are underlining their support for Quantoz by investing in the company.

Anil Hansjee, General Partner at Fabric Ventures, said:

“Europeans speak loudly about MICAR making stablecoin issuance seamless in Europe and whilst there are clearer rules, there are very few players that can pull it off at scale. Think regulatory licenses, tier 1 banking partners with adequate liquidity ratios and balance sheets, blockchain expertise, state of the art and scalable compliance onboarding, on chain transaction monitoring, treasury and risk management, security DNA, let alone an ability to convince major European exchanges to list you and market makers to provide liquidity, as well as dApps to build use cases around you. Quantoz Payments have achieved all this and brought all the right components to the table to succeed. Fabric Ventures are delighted to be participating in this partnership and in an investment thesis that sits firmly at the intersection of our expertise in payments and crypto.”

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Mark Greenberg, VP of Product & GM of Consumer at Kraken, said:

“Stablecoins are the backbone of crypto, reshaping the way people connect traditional finance with the decentralized world. We’re pumped to join this investment round and team up with industry partners to push the mission of crypto adoption forward.” 

Paolo Ardoino, CEO of Tether said:

“Our support for Quantoz highlights Tether’s commitment to fostering innovative and regulated solutions within the digital asset landscape. By supporting Quantoz and bringing technology solutions like Hadron by Tether, we reinforce our dedication to expanding reliable, compliant financial tools that empower users and build trust across the digital ecosystem.”

Arnoud Star Busmann, CEO at Quantoz Payments, added:

“Quantoz is an established digital payments technology company in the heart of the European Union and started issuing EURD earlier this year, another euro-backed stablecoin focused on e-money solutions for consumer payment ecosystems as well as treasury management for corporates.

“The support through this investment round from some of the best businesses in digital assets will enable us to provide a timely solution for digital asset markets as well as unlock the benefits of blockchain based money for more traditional use cases. We are excited to be partnering with them on this journey.”

The amount of EURQ and USDQ in circulation is fully backed 1-to-1 by fiat reserves and highly liquid financial instruments such as government bonds. These reserves are managed by an independent foundation, subject to strict DNB oversight and are placed in segregated accounts with Tier 1 banks. In addition to the requirement of maintaining 100% reserves to fully back all circulating assets, Quantoz is also required to hold an additional 2% on its own balance sheet as part of its obligations under MiCAR.

About Quantoz Payments

Founded in 2015, Quantoz N.V. is a financial technology company. Its subsidiary, Quantoz Payments, was founded in 2021 and issues USDQ, a US dollar backed E-Money Token (EMT) and two euro-backed EMTs, EURQ and EURD, within the European Economic Area. These EMTs facilitate fast, cheap, transparent and secure blockchain technology based payments.

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Incorporated in the Netherlands, the Company holds an Electronic Money Institution (EMI) license from the Dutch supervisory authority, the Dutch Central Bank. The funds received in exchange for the e-money tokens are held by Stichting Quantoz, a bankruptcy remote entity, which ensures that these funds are safeguarded following the requirements of MiCAR. The e-money tokens in circulation are fully backed 1-to-1 with fiat and highly liquid financial instruments. In addition, the Company is required to hold at least an additional 2% of reserves on its balance sheet. Quantoz Payments and Stichting Quantoz are subject to prudential supervision by DNB.

W: https://quantozpay.com/
L: https://www.linkedin.com/company/quantoz/
X: https://x.com/Quantoz

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