BTQ Technologies

What BTQ Technologies does

BTQ Technologies Corp. (NASDAQ:BTQ, NEOE:BTQ; headquartered Vancouver, BC) is a publicly traded quantum technology company building a full-stack platform that spans post-quantum cryptography hardware, quantum computing emulation software, and quantum-secure blockchain infrastructure. The portfolio centers on QCIM (Quantum Compute-in-Memory), a soft-IP cryptographic accelerator that combines the CASH engine with compute-in-memory techniques to deliver NIST-standardized post-quantum algorithms (ML-KEM, ML-DSA, SLH-DSA) alongside classical AES/ECDSA at sub-microjoule energy and up to one million signatures per second, targeting TSMC 40nm/28nm and GlobalFoundries 22FDX nodes. The company also operates MIMIQ, a Matrix Product States-based quantum emulator capable of simulating thousands of qubits and millions of gates with claimed 100% accuracy on MQT Bench circuits, and QLU, a compiler for neutral-atom quantum processors, after acquiring France-based QPerfect SAS in July 2026 for €18.59M plus up to €5.7M earnout.

The commercial surface extends into network and digital-asset security through QSSN (Quantum Secure Stablecoin Network) and Bitcoin Quantum (BIP 360-based P2MR transactions on a live testnet with 300,000+ blocks), plus the One-Shot Signatures and QPoW boson-sampling consensus primitives. Revenue mechanics are diversified across hardware IP licensing and royalties to semiconductor manufacturers (ICTK, TSMC ecosystem), subscription and cloud-based access to MIMIQ (including via SDT's QuREKA platform in South Korea), professional services tied to enterprise pilots and standards work, and a Bitcoin Quantum mining pool with a 3% fee. R&D and commercial activity is anchored in Vancouver, with engineering hubs in New York City (QCIM silicon commercialization), Strasbourg (QPerfect, MIMIQ/QLU) and Seoul (SDT partnership channel), and a Taiwan team working with ITRI and ICTK on chip integration with the TSMC foundry ecosystem.

BTQ serves defense and government, financial services, telecommunications, critical infrastructure, cryptocurrency, and quantum-computing research customers, with named deployments and development agreements spanning ICTK (US$15M QCIM secure element program), Finger Inc. and Danal (QSSN stablecoin pilots), Daou Data and Keypair (Korea payments network security), and SDT (QuREKA cloud channel). The company is largely pre-revenue at the operating level (one third-party estimate cites CA$565K against CA$14.3M of losses) but holds approximately C$20.9M of cash on a balance sheet funded by $7M (Dec 2024), $29.2M (June 2025), and $106.1M (June 2026) equity raises, supplemented by milestone-based development contracts and recent ETF inclusions (WisdomTree WQTM, Defiance QTUM, SamsungActive KoAct, MSCI Canada Small Cap).

Name

BTQ Technologies

Legal name

BTQ Technologies Corp.

Website

https://btq.tech

Company type

Public

Founded year

2021

Operating status

Operating

Short description

BTQ Technologies is a publicly traded quantum technology company building post-quantum cryptography hardware (QCIM, CASH), quantum emulation software (MIMIQ, QLU), and quantum-secure blockchain infrastructure (QSSN, Bitcoin Quantum) for defense, financial services, telecom, and digital-asset customers across North America, Europe, and Asia-Pacific.

Ownership category

akta.pro rank

Product category

Post-Quantum Cryptography

SIC

Electronic Computers (3571)

akta.pro primary industry

Quantum-Safe Hardware & Embedded Security (TPM/secure elements/firmware) (HDAGAGAJ)

akta.pro secondary industries

Quantum-Safe Cryptographic Algorithms & Protocols (PQC) (HDAGAGAC), Quantum-Safe Network Infrastructure & Migration (PQC-enabled Networking) (HDAGAFAG), PQC Migration, Readiness Assessment & Crypto-Agility (HDAGAGAD), QCaaS Platforms & Developer Portals (HDAGAIAB), Fault-Tolerant Gate Sets & Logical Operations (transversal, lattice surgery, magic-state) (HDAGAJAB)

Keywords

• Post-quantum cryptography
• Quantum security hardware
• Quantum computing emulation
• Cryptographic acceleration
• Quantum blockchain security

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Hardware IP Licensing: Licensing of QCIM soft IP to semiconductor manufacturers and secure element producers. Delivered as synthesizable IP for ASIC/FPGA integration, discrete co-processors, and future chiplet configurations. Revenue from design wins, licensing fees, and royalty arrangements with partners including ICTK and TSMC ecosystem.
2. QPerfect Software Platform: MIMIQ quantum emulator licensing to research institutions and enterprises. MIMIQ is licensed to leading quantum groups across Europe, Asia, and North America. Revenue from cloud-based access (via QUREKA platform), direct software licenses, and enterprise subscriptions.
3. QSSN Deployment Services: Implementation and deployment of Quantum Secure Stablecoin Network for financial institutions, central banks, and payment providers. Revenue from proof-of-concept deployments, integration services, and ongoing network operation fees.
4. Quantum Consulting and Research: Research collaborations, consulting services, and technology development partnerships with academic institutions and government agencies. Includes joint development agreements like the US$15M ICTK development agreement.
5. Bitcoin Quantum Mining and Services: Bitcoin Quantum operates a mining pool with 3% fee on block rewards, projected to accumulate approximately 100,000 BTQ tokens in first 12 months. Future monetization pathways include security-as-a-service, premium settlement infrastructure, and quantum certification services.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

BTQ Technologies develops quantum hardware and post-quantum cryptographic platforms, providing a full-stack quantum commercialization platform. Its offerings include QCIM (Quantum Compute-in-Memory) cryptographic accelerator IP, the MIMIQ quantum emulator, QLU (Quantum Logical Unit), the QSSN (Quantum Secure Stablecoin Network), and Bitcoin Quantum blockchain security tooling for defense, financial, telecommunications and critical-infrastructure customers.

Differentiator

Problem solved

Functional benefit

Brands

• QPerfect: French quantum software and emulation company specializing in quantum algorithm development platform (MIMIQ), Digital Twin modeling tools, and Quantum Logical Unit (QLU) control framework for neutral atom quantum processors. Now a wholly owned subsidiary of BTQ following July 2026 acquisition.

Products and services

• QCIM (Quantum Compute-in-Memory) Cryptographic accelerator IP and secure silicon platform combining Quantum Compute-in-Memory with CASH (Cryptographically Agile Secure Hardware) and PUF primitives; delivered as synthesizable IP blocks and reference chips for semiconductor integrators building quantum-resistant hardware.
• MIMIQ Quantum Emulator
• QLU (Quantum Logical Unit)
• QSSN (Quantum Secure Stablecoin Network)
• Bitcoin Quantum

Quantifiable outcome

• Up to 5x AES throughput improvement over leading secure hardware
• +7 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature8 records

Partnerships

16 partnerships are on record, tiered core, key and minor.

• ICTK Co., Ltd. (Chip Design)coreTechnology or Integration · 10 July 2026Completed design of QCIM+PUF security chip combining BTQ's QCIM cryptographic accelerator architecture with ICTK's VIA PUF technology, enabling hardware-rooted authentication for IoT, AI, and industrial systems. Test chips expected to ship to customers by year-end 2026.
• QPerfect SAcoreStrategic or Co-development Partner · 1 July 2026BTQ completed full acquisition of QPerfect SA, a French quantum computing company based in Strasbourg, for €18.6 million plus up to €5.7M earnout. QPerfect brings MIMIQ quantum emulator, Digital Twin capabilities, and Quantum Logical Unit (QLU) framework. The acquisition transforms BTQ into a vertically integrated quantum technology leader. QPerfect was founded in 2023 and operates at the European Center for Quantum Sciences.
• Daou DatakeyStrategic or Co-development Partner · 15 April 2026Strategic collaboration to implement hardware-rooted post-quantum cryptography into Korea's payment gateway and value-added network systems to protect financial data from future quantum computing threats. Builds on previously announced strategic investment and co-development relationship with Keypair.
• SDT Inc.keyChannel Partner/ Reseller/ Distributor · 1 February 2026Strategic agreement to integrate QPerfect's MIMIQ virtual quantum computer into SDT's QUREKA hybrid quantum computing platform, creating cloud-based quantum emulation service. SDT operates and commercializes the customer-facing service while QPerfect provides the MIMIQ back end. QuREKA launched commercially at Quantum Korea 2026 in Seoul.
• ITRI (Industrial Technology Research Institute)keyTechnology or Integration · 21 January 2026Strategic partnership for joint research into post-quantum secure chip architecture for blockchain security applications. Collaboration aims to move from theoretical research to silicon validation, with ITRI providing institutional credibility and TSMC ecosystem positioning.
• Radical SemiconductorcoreTechnology or Integration · 1 November 2025Asset acquisition of Radical Semiconductor, including its CASH (Cryptographically Agile Secure Hardware) technology. Radical co-founders Sean Hackett and Zach Belateche joined BTQ as full-time employees to lead silicon product and hardware security divisions.
• ICTK Co., Ltd.coreStrategic or Co-development Partner · 1 October 2025US$15 million development agreement with Korea's leading secure element manufacturer for QCIM secure element platform development across design, validation, tape-outs, certification, and productization. Target metrics include up to 5x AES throughput, approximately 1 million digital signatures per second, sub-microjoule energy per operation, and crypto agile support for FIPS 203/204/205 and CNSA 2.0.
• Stablecorp (DeFi Technologies)minorStrategic or Co-development Partner · 25 September 2025Strategic investment and partnership with Canada's Stablecorp, backer of QCAD Canadian-dollar stablecoin. Partnership includes post-quantum security roadmap collaboration with BTQ Technologies. Other investors include Coinbase Ventures, Circle Ventures, and Side Door Ventures.
• QuandelaminorStrategic or Co-development Partner · 1 May 2025MOU signed with French photonic quantum computing company to advance quantum proof-of-work protocols based on coarse-grained boson sampling, using data from Quandela's state-of-the-art discrete variable photonic processor.
• KeypairkeyStrategic or Co-development Partner · 1 January 2025BTQ made strategic investment in Keypair, which serves as supporting implementation partner for hardware-rooted PQC, contributing hardware security modules and device-layer integration capabilities.
• Finger Inc. GroupkeyStrategic or Co-development Partner · 1 January 2025QSSN proof-of-concept deployment with Finger Inc. Group, a banking solutions developer serving major Korean banks. Validation of high volume settlement in regulated context as blueprint for market scale rollouts.
• DanalkeyStrategic or Co-development Partner · 1 January 2025QSSN proof-of-concept with Danal, Korea's leading mobile carrier billing provider, integrating quantum secure settlement and issuer-level controls into existing payment rails while preserving consumer and merchant experience.
• Macquarie UniversityminorStrategic or Co-development Partner · 1 January 2025Research collaboration published in Physical Review Research on efficient quantum error correction using cavity coupling with qubits for qLDPC codes.
• University of SheffieldminorStrategic or Co-development Partner · 1 January 2025Research collaboration published in PRX Quantum on code switching for non-Clifford gates, reducing overhead in high-performing quantum error correction codes.
• University of CambridgeminorStrategic or Co-development Partner · 1 January 2025Collaboration to advance inverse design quantum photonic devices for next generation computing and secure communications, with defined path toward prototype fabrication, validation, and productization.
• QuEra and QuantinuumminorChannel Partner/ Reseller/ Distributor · 1 January 2025MIMIQ is licensed to leading quantum groups including QuEra and Quantinuum, both advancing to Stage B of DARPA's Quantum Benchmarking Initiative. Positions BTQ as provider of software infrastructure for hardware leaders.

Scale indicators11 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• PQShield: UK-based PQShield provides NIST-standardized post-quantum cryptographic IP and software libraries for chip and device manufacturers, competing directly with BTQ's QCIM soft IP licensing business model.
• ID Quantique: ID Quantique provides quantum cryptography solutions including quantum key distribution (QKD) and quantum random number generation, competing with BTQ's quantum-secure networking and cryptography offerings for defense and financial customers.
• QuSecure: QuSecure offers post-quantum security orchestration software and crypto-agility platforms for enterprise migration, overlapping with BTQ's PQC migration and crypto-agility offerings for defense and financial services customers.
• Crypto4A Technologies: Canada-based Crypto4A builds quantum-safe hardware security modules and HSMs, directly competing with BTQ's QCIM/CASH secure element platform for enterprise PQC hardware deployments in government and financial services.
• SandboxAQ: SandboxAQ develops post-quantum cryptography and AI-quantum hybrid security platforms for enterprises and governments, making it one of the most direct competitors to BTQ's PQC migration and crypto-agility offerings across financial services and government.

Emerging players

• Quantinuum: Quantinuum is a leading trapped-ion quantum computing company and a MIMIQ licensee, positioning it as a customer of BTQ's emulation software while competing in the broader quantum computing services market.
• QuEra Computing: QuEra builds neutral-atom quantum computers and is also a MIMIQ licensee, making it both a partner (BTQ's QLU targets neutral-atom systems) and adjacent competitor in the neutral-atom quantum computing stack.
• Quantropi: Quantropi provides quantum-secure encryption and key distribution platforms based on proprietary mathematical approaches, competing in the same PQC migration market as BTQ with focus on enterprise and government customers.
• Quantum eMotion: Quantum eMotion develops quantum random number generation (QRNG) for security applications, representing an adjacent quantum-based security hardware offering with overlap to BTQ's quantum-secure hardware portfolio.

Broad incumbents

• IBM Quantum: IBM Quantum is a broad incumbent offering quantum computing hardware, software, and consulting, with adjacent PQC capabilities through IBM Research's NIST-standardized algorithm contributions — competing for the same enterprise quantum and PQC budget.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BTQ_Tech
• YouTubeyoutube.com/@TheQuantumState
• LinkedInlinkedin.com/company/btqag
• Instagraminstagram.com/btqglobal
• TikToktiktok.com/@btqtech

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors

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

M&A

Investments

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

Frequently asked questions about BTQ Technologies