Quantum Money Fund (QMF)

Quantum technology is crossing a historic threshold — from theory into application.

Until recently, useful quantum computing was thought to require fully fault-tolerant machines — a milestone still years away. But a new wave of research and commercial breakthroughs is overturning that assumption. A key example: Quantinuum’s release of the first commercial application for quantum computers, certifying randomness in a way that classical machines fundamentally cannot. This isn’t science fiction — it’s on the market today, and backed by rigorous peer-reviewed science (Scott Aaronson’s take).

This is the tipping point that validates QMF’s thesis.

Contextual cryptography is unlocking new financial primitives:

• One-shot signatures
• Physically unclonable identities

• Device-independent authentication

• Quantum money

While quantum computing captures the headlines, quantum cryptographic protocols remain vastly underfunded — a crucial gap that QMF is uniquely positioned to fill. Our focus is on contextual cryptography: one-shot signatures, physically unclonable identities, device-independent authentication, and quantum money. These primitives don't require flawless machines — just good-enough ones — and they unlock new definitions of trust, identity, and financial interaction.

This shift validates the core thesis of QMF: that the first wave of quantum-native primitives — contextual cryptography, unforgeable identities, one-shot signatures, device-independent authentication — won’t require perfect machines, only good-enough ones.

QMF is focused on this first-mover opportunity: backing the cryptographic systems and financial infrastructure native to quantum mechanics. We are not waiting for general-purpose quantum computing; we are investing in contextual, state-dependent cryptography that redefines how trust, identity, and value move in the digital age.

This is not an incremental shift. It’s the emergence of a new cryptographic foundation — one that can be implemented today and will define the next era of secure, quantum-aware financial systems.

PsiQuantum’s $750M Raise at $6B Valuation: On March 25, 2025, PsiQuantum announced a massive $750 million funding round at a $6 billion pre-money valuation, led by BlackRock, to build a fault-tolerant quantum computer using photonic chips. This investment signals strong market confidence in quantum computing’s near-term potential.

Photonic chips, leveraging existing semiconductor manufacturing, pave the way for scalable quantum infrastructure—crucial for quantum-native financial systems.

Dr. Pierre-Luc Dallaire-Demers’ Perspective: As a quantum theorist and QMV advisor, Dr. Dallaire-Demers shared the PsiQuantum news and added:

“Will the P2PK coins land in the Strategic Reserve or in BlackRock's ETF?”. This question highlights the looming quantum threat to Bitcoin’s P2PK (Pay-to-Public-Key) coins, which are vulnerable to quantum attacks, and BlackRock’s significant role in the crypto market through its ETF products, alongside discussions of a U.S. Strategic Bitcoin Reserve.