Standard Chartered Share News (STAN)

(Alliance News) - Fujitsu Ltd and Standard Chartered PLC's Singapore-based platform SC Ventures on Thursday said they will team up to incubate Project Quanta.

The Kawasaki, Japan-based information technology company said the project will integrate software and hardware technologies to provide a platform to develop quantum computing and quantum-inspired applications.

The platform will also provide pre-built algorithms in areas including fraud detection, risk simulations and derivative pricing.

It will use Fujitsu's quantum computing technology. The firm has been developing quantum computing capabilities, and is currently working on a 1,000 quantum bit superconducting quantum computer, which is scheduled to begin operation in the 2026 financial year.

Fujitsu is also planning the development of a plus-10,000 qubit computer by 2030.

"At Fujitsu, we are committed to solving the world's most complex challenges through innovation and collaboration. Partnering with SC Ventures on Project Quanta represents a bold step toward democratising access to quantum capabilities and realising true quantum advantage," said Stafford Bond, head of growth investments at Fujitsu Services.

"By combining our expertise in quantum technologies and integration with SC Ventures' deep industry insight and venture building pedigree, we aim to accelerate the practical application of quantum technologies and unlock transformative value for businesses."

Shares in Fujitsu closed up 0.3% at JPY3,641.00 in Tokyo on Thursday. Standard Chartered shares were down 1.6% at 1,429.50 pence in London, and closed 0.9% lower at HKD149.60 each in Hong Kong.

By Michael Hennessey, Alliance News reporter

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