BTQ Stock Surges Pre-Market On Quantum-Secure Chip Development Agreement With ICTK

• BTQ’s agreement with ICTK will see the two companies work on commercializing a next-generation quantum-secure secure element chip.
• This comes amid growing concerns of cybersecurity threats due to quantum computing.

BTQ Technologies Corp. (BTQ) on Monday announced that it has signed a quantum-secure chip development and joint investment agreement with ICTK, a South Korea-based semiconductor security company.

BTQ’s agreement with ICTK will see the two companies work to commercialize a next-generation quantum-secure element chip to address growing cybersecurity concerns posed by quantum computing.

BTQ’s shares were up more than 7% in Monday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory at the time of writing.

Development Focus

The company said the development work will focus particularly on safeguarding the digital asset and stablecoin markets. BTQ and ICTK will combine the former’s post-quantum cryptography (PQC) technology with ICTK's secure-element chip design and manufacturing capabilities.

As part of the deal, BTQ will invest $15 million in ICTK, while the latter will provide BTQ with an in-kind contribution through cost-sharing and preferential deployment of manufacturing capacity.

High-Assurance Use Cases

The quantum-secure secure element chip, known as QCIM (Quantum Compute in Memory), will be used in high-assurance cases such as cold and hardware wallets for digital assets, mobile authentication and fintech security, Internet of Things (IoT) endpoints, payment gateways, and defense systems, the company said.

“By combining BTQ's QCIM platform, powered by our CASH acceleration, with ICTK's secure-element expertise, we give hardware makers a clear path to embed post-quantum protection at scale.”

— Olivier Roussy Newton, CEO, BTQ

BTQ and ICTK are also considering collaborating on mass production, testing, and global standardization, as well as obtaining the required security and payment certifications to support customer integration.

BTQ stock is up 38% since its Nasdaq debut in September.

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