Standard Chartered Ventures and Fujitsu Limited have announced the roadmap for their quantum-powered project, Qubitra Technologies.
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Originally announced as Project Quanta in 2025, the new launch has been under the title Qubitra technologies.
The initiative aims to accelerate quantum capability and foster resources and talent to drive innovation in quantum computing.
The company will operate in the UK, enabling quantum-powered applications focusing on high performance and developing a global marketplace platform.
Vivek Mahajan, corporate executive officer, corporate vice president, CTO, in charge of system platform at Fujitsu Limited, said:
“Qubitra’s applications for financial institutions, in the areas of fraud detection, derivatives pricing and in financial markets trading, will utilise novel machine learning and optimisation techniques which harness the latest quantum and quantum inspired computing devices. Qubitra is already working with financial institutions including Standard Chartered Bank, to deploy advanced solutions in these areas. These approaches are designed to deliver measurable improvements over conventional methods used today, paving the way for broader adoption of quantum technologies in financial services and beyond.”
Qubitra is developing solutions in fraud detection and financial markets trading using quantum algorithms and machine learning. Financial institutions, hedge funds, and family offices will soon be able to use the technology, expected to go live early this year.
The objective of the marketplace platform is to connect quantum hardware and software providers, and users across the quantum communities to deploy and test solutions, forming an open-source collaboration.
Fujitsu will supply quantum hardware and proprietary quantum applications.
The founding leadership team of Qubitra has been announced as:
- Vishal Shete as CEO, a former managing director at Terra Quantum
- Daniel Wynne as COO, an ex-founding COO at Carbonplace
- Kugendran Naidoo as CSO, who has extensive experience working with frontier technologies at JP Morgan and IBM
Alex Manson, CEO of SC Ventures, commented: “We use modern and at times frontier technologies to re-invent financial services: Qubitra, with access to Fujitsu’s quantum software and hardware, will leverage quantum technology across a number of use cases to rewire the DNA in banking and beyond.”
