What BTQ does

BTQ Technologies Corp. is a Vancouver-based, publicly listed (CBOE Canada: BTQ; NASDAQ: BTQ; Frankfurt: NG3) quantum technology company building post-quantum cryptography infrastructure across hardware, software, and networks. The company was founded by post-quantum cryptographers and went public in February 2023; its current platform spans QCIM (Quantum Compute-in-Memory) crypto-agile secure hardware with embedded CASH (Cryptographically Agile Secure Hardware) accelerators, QSSN (Quantum Secure Stablecoin Settlement Network) infrastructure for digital asset settlement, OSS one-shot signature schemes, QPoW (Quantum Proof-of-Work) consensus based on Boson Sampling, QRiNG quantum random number generation, the Preon zk-SNARK-based post-quantum signature scheme (a NIST PQC Standardization candidate developed with Hon Hai/Foxconn), PQScale aggregate signature APIs, and the Bitcoin Quantum testnet implementing BIP 360. BTQ is integrating the QPerfect neutral-atom emulation stack (MIMIQ emulator and QLU fault-tolerant control framework) via a pending full acquisition. The company serves financial institutions (iM Bank, Finger Inc., Daou Data, Stablecorp/QCAD), government/defense (via U.S. Strategic Advisor Brandt Pasco and Australian Industry Growth Program support), critical infrastructure (LIG Nex1, Hanwha Systems, KEPCO via Keypair), blockchain ecosystems (Bonsol Labs/Solana, Bitcoin Quantum testnet), and quantum computing users (SDT/QUREKA platform).

The company is pre-revenue with Q1 2025 reported revenue of zero against $18.5M of expenses and an $8M cash burn. Revenue is expected to derive from a mix of multi-year enterprise development agreements (e.g., $15M ICTK chip co-development), usage-based cloud emulation services (MIMIQ on SDT's QUREKA platform, live February 2026), sovereign finance settlement fees (via DeFi Technologies/SovFi), joint IP monetization from Korean partnerships (Keypair, ICTK, Daou Data), and future licensing royalties as standards-compliant PQC hardware ships. Go-to-market combines direct enterprise sales to U.S./Australian government and defense, a Korean channel partner ecosystem anchored by ICTK/Danal/Finger/Keypair, a community-led open-source approach for Bitcoin Quantum and PQScale, and event-driven institutional visibility across the Benchmark-StoneX, Cantor, Supercomputing, and SEALSQ conference circuits. Strategic investments in ICTK and Keypair provide co-ownership of PQC IP and preferential manufacturing capacity, while inclusion in five ETF/index vehicles (Defiance QTUM, WisdomTree WQTM, VanEck UCITS, Samsung KoAct, MSCI Canada Small Cap) broadens equity-market distribution.

Name

BTQ

Legal name

BTQ Technologies Corp.

Website

https://btq.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

BTQ Technologies is a Vancouver-based public quantum technology company building post-quantum cryptography hardware (QCIM/CASH), software (QSSN, Preon, PQScale), and networks (Bitcoin Quantum/BIP 360, QPerfect MIMIQ) for financial institutions, government/defense, and blockchain ecosystems worldwide.

Ownership category

akta.pro rank

Product category

Post-Quantum Cryptography and Quantum-Secure Infrastructure

NAICS

Security Systems Services (except Locksmiths) (561621), Computer Systems Design and Related Services (54151)

akta.pro primary industry

Quantum-Safe Cryptographic Algorithms & Protocols (PQC) (HDAGAGAC)

akta.pro secondary industries

Quantum-Secure Network & Transport Encryption (VPN/TLS/IPsec/MACsec) (HDAGAGAF), Quantum-Safe Data-at-Rest Protection (Storage/Database/File Encryption) (HDAGAGAI), Quantum-Safe Hardware & Embedded Security (TPM/secure elements/firmware) (HDAGAGAJ)

Keywords

• Post-quantum cryptography
• Quantum-secure hardware
• Cryptographic accelerators
• Quantum-safe blockchain
• Quantum emulation software

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Pre-revenue with pilots/POCs: Q1 2025 revenue was zero while expenses surged to $18.5 million and cash burn reached $8 million; company is pre-revenue and operating multiple capital-intensive projects in post-quantum cryptography hardware, software, and networks. Revenue is currently being generated through proof-of-concept pilots, development agreements, and strategic partnerships rather than scaled product sales.
2. Strategic development agreements: Signed USD $15 million development and investment agreement with ICTK Co., Ltd. for joint QCIM secure element chip design, validation, tape-outs, certification, and productisation; partnership includes BTQ direct equity investment into ICTK with preferential manufacturing capacity commitments.
3. Joint IP ownership and co-development: Strategic investment in Keypair grants BTQ co-ownership of Keypair's existing and future post-quantum cryptography IP and establishes joint development partnership for hardware-rooted security technologies, enabling joint monetization of resulting products.
4. Cloud-based quantum emulation service: QPerfect and SDT launched cloud-based quantum emulation service powered by MIMIQ on SDT's QUREKA platform; service went live February 1, 2026; BTQ holds 16.67% in QPerfect with full acquisition pending French FDI approval.
5. Sovereign finance framework settlement: BTQ provides post-quantum secure settlement technology for DeFi Technologies' and SovFi's sovereign finance framework targeting the $100T+ sovereign debt market, with principal-protected instruments converting bond coupon payments into Bitcoin.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

BTQ Technologies builds post-quantum cryptography infrastructure spanning quantum-secure cryptographic hardware (QCIM with CASH processing-in-memory architecture), software platforms (QSSN stablecoin settlement network, Bitcoin Quantum BIP 360, QPoW quantum proof-of-work, OSS one-shot signatures, QRiNG quantum RNG), and signature tools (Preon, PQScale). The company delivers crypto-agile solutions that execute both classical and NIST-standardized post-quantum primitives on the same hardware, targeting regulated financial institutions, federal agencies, blockchain ecosystems, and critical infrastructure operators.

Product overview

BTQ Technologies is a platform-plus-modules architecture offering a unified portfolio of quantum and post-quantum products spanning both defensive (QCIM secure hardware, QSSN stablecoin network infrastructure) and offensive (OSS one-shot signatures, QPoW quantum proof-of-work, QRiNG quantum random number generator) capabilities. The core platform combines crypto-agile hardware accelerators (QCIM with embedded CASH) with software modules including Preon (zk-SNARK PQC signatures), PQScale (signature aggregation API), Bitcoin Quantum (quantum-safe Bitcoin fork), and the emerging QPerfect stack (MIMIQ high-speed quantum emulator and QLU fault-tolerant quantum control) that BTQ is integrating via its pending acquisition. Together these products target post-quantum cryptography deployment across defense, financial, payment, IoT, and blockchain ecosystems, with standards alignment to NIST PQC algorithms and recognition through QuINSA and PQFIF industry alliances.

Differentiator

Problem solved

Functional benefit

Brands

• QCIM: Quantum Compute-in-Memory, crypto-agile quantum-secure cryptographic hardware platform with reconfigurable post-quantum and classical cryptography support.
• QSSN
• OSS
• QPoW
• QRiNG
• Bitcoin Quantum
• Preon
• PQScale
• Leonne (Léonne)
• CASH

Products and services

• QCIM (Quantum Compute-in-Memory) Quantum-secure cryptographic hardware with crypto-agile architecture executing both classical and NIST-standardized post-quantum primitives on the same die, with on-the-fly reprogrammability as standards evolve. Designed for payment terminals, IoT devices, HSMs, and telecom systems requiring PQC migration.
• QSSN (Quantum Secure Stablecoin Settlement Network) Quantum-secure stablecoin network infrastructure for digital currencies and DeFi applications. Delivers PQC-based dual-signature security architecture alongside existing ECDSA infrastructure, with deployment in South Korea's bank-led KRW stablecoin pilot.
• OSS (One-Shot Signatures) Post-quantum cryptographic signature scheme ensuring secure digital transactions, preventing key reuse, and resisting quantum attacks through single-use unforgeable signatures for one-time authentication.
• QPoW (Quantum Proof-of-Work)

Named customers8 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature10 records

Scale indicators16 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Quantinuum: Trapped-ion quantum computing platform with significant post-quantum cryptography and quantum networking research; competes with BTQ in combining quantum hardware with PQC and crypto-agile architectures for enterprise and government customers.
• ID Quantique: Swiss vendor of quantum-safe network encryption and quantum key distribution (QKD) hardware, listed as a partner on BTQ's website; competes with BTQ in the PQC/QKD hardware category for banks, governments, and critical-infrastructure customers.
• PQShield: UK-based post-quantum cryptography software and IP vendor focused on NIST PQC implementations for chips, HSMs, and cloud; directly competes with BTQ's Preon, PQScale, and QCIM software stack for the same enterprise PQC migration wallet.
• ISARA Corporation: Canadian PQC specialist offering crypto-agile libraries and migration tools for governments and enterprises; directly competes with BTQ's Preon/PQScale offerings and is a near-geography peer (Canadian-headquartered).
• Crypto4A Technologies: Ottawa-based PQC hardware security module (HSM) vendor; competes with BTQ's QCIM/CASH hardware for the same financial-institution, government, and critical-infrastructure PQC migration use cases.

Broad incumbents

• IonQ: Public pure-play quantum computing company with trapped-ion systems and growing PQC/security offerings; competes for institutional, government, and ETF investor capital and is grouped with BTQ in the same quantum-thematic ETFs (e.g., QTUM, VanEck Quantum).
• D-Wave Quantum: Public quantum computing company bundled into the same quantum-thematic ETFs (QTUM, VanEck, WisdomTree) as BTQ; competes for thematic investor capital and for government/defense quantum programs.

Emerging players

• PsiQuantum: Photonic quantum computing company; competes for the same elite quantum engineering talent (BTQ's NYC hub recruited from PsiQuantum) and for federal/defense quantum funding, though its core focus is fault-tolerant quantum computing rather than PQC migration.
• Quobly: French silicon spin-out building silicon spin-qubit quantum processors; partnered with QPerfect (BTQ subsidiary) on the CUDA-Q compatible Qleo emulator, making it an adjacent collaborator and emerging competitor in the European quantum stack.

Regional players

• DeFi Technologies: Canadian public company building a 'SovFi' sovereign finance framework using BTQ's post-quantum settlement technology; not a direct PQC competitor but a downstream partner and proxy for how BTQ's QSSN integrates into regulated digital-asset infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/BTQ_Tech

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries5 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BTQ