UK Startup QANplatform Gets $15 Million from Qatari Investment Giant MBK Holding for Quantum-Resistant Tech
MBK Holding, a Qatari investment giant has inked a $15 million strategic investment with the UK-based emerging technology startup, QANplatform. The company will use the newly acquired funds to expand into new international markets. In light of the risks posed by quantum computing to blockchain technology and Web3 as a whole, the startup is working to create an effective and secure solution for companies and developers.
Tackling the threat posed by quantum computing on blockchain tech
The funding in innovative approaches to blockchain technology, especially those that deal with quantum barriers. While blockchain technology has been hailed as an upgrade to the efficiency and security of computing, it faces a threat from quantum computing, which could compromise existing encryption technologies.
Therefore, it is critical that blockchain platforms fortify themselves against attacks of this kind. QANplatform has made it easier for developers to build on it, as they can use any language to create a broad variety of apps on the platform. Essentially, QANplatform is set to be the first hybrid blockchain platform that is both EVM-compatible and quantum-resistant at Layer 1.
In addition to the financial investment, MBK Holding offers QANplatform a suite of growth services designed to help the company break into new international markets and expand internationally. With MBK Holding’s backing, the startup is better equipped to speed up its development and venture into new sectors, where its secure and reliable blockchain solutions are needed.
With a presence in both Qatar and the UK, MBK Holding is an investment firm that has a track record of backing innovative tech startups and a diverse portfolio of investments. Besides having a strong financial muscle, MBK Holding boasts of a wide global reach and influence, thanks in part to the backing of the Qatari ruling family.
In an age where quantum computing presents new cybersecurity challenges, the platform’s quantum-resistant security—achieved through the use of NIST major recommended post-quantum algorithms—places it at the front of blockchain innovation. Aside from being resistant to quantum computing, QANplatform is also revolutionary because it supports smart contracts written in any language. Furthermore, QANplatform stands out as a hybrid platform that integrates both public and private blockchains.