ĢƵ together with Mitsui advance unforgeable quantum tokens over fibre network in first ever trial
November 18, 2024
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, Japan and Broomfield, Colorado - November 18th, 2024 — In a long anticipated trial, ĢƵ ("ĢƵ", 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 ĢƵ, 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 ĢƵ.”
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 ĢƵ, 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 , 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.
Learn more about this new frontier of financial security, powered by quantum,
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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).
About Mitsui
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.
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 for more information.
About ĢƵ
ĢƵ, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. ĢƵ’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, ĢƵ leads the quantum computing revolution across continents.
About NEC Corporation
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.
About ĢƵ
ĢƵ,the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. ĢƵ’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, ĢƵ leads the quantum computing revolution across continents.
March 18, 2026
Nitesh Sharan Joins ĢƵ as Chief Financial Officer
March 18, 2026 – BROOMFIELD, Colo. – ĢƵ, a leading quantum computing company, today announced the appointment of Nitesh Sharan as Chief Financial Officer (CFO), effective April 6, 2026.
Mr. Sharan brings more than 25 years of global finance experience across technology, consumer products and consulting. He joins the company after nearly five years as CFO of SoundHound AI, Inc., where he led the company through its public listing in 2022 and oversaw strategic financial planning, accounting, corporate strategy, human resources, legal and intellectual property.
“Nitesh brings an exceptional combination of financial leadership, operational rigor and experience scaling technology companies,” said Dr. Rajeeb Hazra, President & CEO of ĢƵ. “As ĢƵ accelerates the commercialization of quantum computing, his experience guiding companies through complex growth and capital market environments will be pivotal.”
Prior to joining SoundHound AI, Mr. Sharan spent more than 5 years at Nike, where he held several leadership roles, including Vice President of Investor Relations & Treasurer, Vice President of Corporate Finance & Treasurer, and CFO of Global Operations & Technology. Prior to joining Nike, he spent 15 years in senior leadership roles at Hewlett-Packard and began his career as a consultant at Accenture.
Mr. Sharan is a Chartered Financial Analyst (CFA) charterholder. He earned his MBA from Northwestern University’s Kellogg School of Management and his bachelor’s degree from Case Western Reserve University. Originally from Cleveland, Ohio, he currently resides in Portland, Oregon. He serves on a number of boards, including Activate, an organization that supports deep science entrepreneurs in commercializing their innovations, and as a Trustee of the Catlin Gabel School, a progressive K-12 independent school.
About ĢƵ
ĢƵ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity1. ĢƵ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.
The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team hold PhDs. ĢƵ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, and Singapore.
ĢƵ Expands Global Footprint to Singapore with the Establishment of a New R&D Centre
The R&D Centre, together with the planned deployment of a ĢƵ Helios system in Singapore, aims to accelerate industrial collaboration across pharma, materials and finance, while bolstering the local quantum ecosystem and workforce
March 11, 2026 – Singapore – ĢƵ, a leading quantum computing company, today announced the establishment of a new R&D and Operations Centre (the “Centre”) in Singapore, marking its formal expansion into Singapore. This important development will enable ĢƵ to deepen collaboration with the nation’s research and industrial ecosystem, together with the company’s plan to deploy its Helios quantum computer in Singapore later this year.
Singapore’s early investment in quantum has positioned the nation to capture value as quantum systems move toward real-world use. In his national budget speech last month, Prime Minister Mr. Lawrence Wong highlighted ĢƵ as an industry leader, emphasizing that Helios will enable Singaporean researchers and companies to work on meaningful projects.
The new Centre will bring together ĢƵ staff with local researchers and industry partners to co-develop commercially relevant solutions across pharma, materials science, finance, and other sectors. It will also serve to help advance Singapore’s national priorities under its National Quantum Strategy by strengthening long-term R&D capabilities and workforce development, helping position Singapore as a global hub for quantum technology.
The Centre’s establishment is supported by the Singapore Economic Development Board (EDB) and builds on ĢƵ’s close partnership with Singapore’s National Quantum Office (NQO) through the National Quantum Computing Hub. The National Quantum Strategy is developed and implemented by NQO, which is hosted in the Agency for Science, Technology and Research (A*STAR), and funded by the National Research Foundation (NRF).
As part of its commitment to developing a robust local ecosystem and support for innovation across the full quantum value chain, ĢƵ is collaborating with pioneering startups in Singapore, including Entropica, which accesses ĢƵ systems through its Startup Partner Program, and Squareroot8, with whom ĢƵ signed a Memorandum of Understanding today to co-develop quantum communications applications.
Official Statements
Dr. Rajeeb Hazra, President and CEO of ĢƵ, said: “We believe there are three pillars to a holistic strategy for building a sustainable quantum frontier: use cases, infrastructure, and workforce. Singapore provides an exceptional foundation for this approach, and we are proud to contribute our experience in ecosystem development as we build a leading quantum ecosystem together."
Dr.Marvin Lee, Country Leader for ĢƵ Singapore, who recently joined the company following senior appointments at A*STAR, EDB, and NRF, where he played a key role in shaping the National Quantum Strategy, said: “The new Centre will enable local talent and industry to work hands-on with quantum technologies, co-develop solutions aligned with national priorities, and support high-value jobs. We are committed to building long-term capability and resilience in Singapore’s digital economy."
Mrs. Josephine Teo, Minister for Digital Development and Information, a key advocate of the National Quantum Strategy, joined ĢƵ today as the Guest of Honour at the official opening of its new Centre, commemorated by a formal ribbon-cutting ceremony. She said: “Singapore aims to be a global hub for the development of algorithms and applications for quantum computers. We will tap on our strengths in sectors of potential application, such as finance, logistics, and pharmaceuticals. Doing so will not only benefit these industries in Singapore, but elsewhere in the world.”
Mr. Pee Beng Kong, Executive Vice President, Singapore Economic Development Board, said: “ĢƵ’s expansion into Singapore marks an important step in translating quantum research into real-world industry applications. The Helios system and new R&D Centre will enable local companies and researchers to collaborate on next-generation solutions in areas such as drug discovery, materials innovation, and financial optimisation. This investment will deepen partnerships across our industry and research ecosystem and build high-value quantum capabilities from Singapore.”
Mr. Ling Keok Tong, Executive Director of the National Quantum Office, said:“ĢƵ's R&D Centre and the Helios deployment create opportunities for Singapore, giving our researchers hands-on access to advanced quantum hardware, and moves us closer to demonstrating real quantum advantage in drug discovery, portfolio optimisation, amongst others. This is a boost to our quantum research and talent development, as well as our efforts in building a robust quantum ecosystem.”
The new Centre represents an important step in ĢƵ’s international expansion and its commitment to collaborating with partners in key innovation hubs. ĢƵ looks forward to continued collaboration with Singapore’s research and industry ecosystem to advance the development and application of quantum technologies.
About ĢƵ
ĢƵ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity1. ĢƵ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.
The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team hold PhDs. ĢƵ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, and Singapore.
Honeywell Announces ĢƵ's Plan to Make Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering
Source:
Charlotte, N.C., Jan. 14th 2026 — Honeywell (NASDAQ: ) today announced that ĢƵ LLC ("ĢƵ" or the "Company"), which is majority owned by Honeywell, plans to make a confidential submission of a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of ĢƵ's common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC's review process.
This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities, will be made in accordance with the registration requirements of the Securities Act.
