Vault Ventures (LSE:VULT) said on Friday that Whitespace, the engineering partner building its secure communications platform, has signed two memoranda of understanding, with Arqit and with Strategic Edge Consulting, to act as co-design partners on the project.
The non-binding agreements bring both firms into the development of Vault's post-quantum cryptography-based technology, aimed at financial institutions and regulatory bodies.
Under the MoUs, the partners will contribute user scenarios, sector expertise and operational feedback covering design, usability and compliance, taking part in structured testing sessions while Whitespace shares design artefacts, prototypes and demonstration environments.
No financial terms, equity stakes or exclusivity provisions were disclosed.
It follows Vault's move to refocus on its quantum-focused technology strategy after writing down the carrying value of a £2.15m loan to its Dubai subsidiary, Web 3 Virtual Vault DMCC, which it now treats as non-core following crypto trading losses.
Mark Evans-Smith, Vault's proposed chief executive and executive director, said the combined expertise of Whitespace's new partners in cyber security, regulatory requirements and operational challenges "will be instrumental in ensuring the Product addresses the genuine needs of our target sectors."
Paul Feenan, Arqit's general manager for government and defence, said the financial services industry "faces a critical tipping point as post-quantum migration deadlines approach," framing the collaboration as addressing a governance problem rather than simply a technical transition.
Ash Jackson, chief operating officer at Strategic Edge, commented that the move to post-quantum cryptography "is one of the most significant security changes financial institutions and regulators will make in the coming decade," and that the partners would bring experience from defence, national security and regulated environments to the design process.