Vancouver, British Columbia, September 30th / PRNewswire / -- American News Group News and Commentary — The encryption technologies that protect today's data have their lifespan, and the market that replaces them is just starting from a smaller base. MarketsandMarkets It is estimated that the global post-quantum cryptography market will grow from $420 million in 2025 to $2.84 billion in 2030, with a compound annual growth rate of 46.2%. Active companies making progress in the current market this week include: Quantum Secure Encryption Corp. ( CSE : QSE ) ( OTCQB : QSEGF ) ( FSE : VN80 ), Cloudflare, Inc. ( NYSE : NET ), IonQ, Inc. ( NYSE : IONQ ), Akamai Technologies, Inc. ( Nasdaq : AKAM ) as well as Okta, Inc. ( Nasdaq : OKTA ).
The concern behind this growth is quite simple. The data that is captured and stored today may be decrypted in the future by sufficiently powerful quantum computers. Therefore, security teams are being urged to start planning for migration now, rather than waiting until such machines actually appear. Standardization efforts have moved from theory to product: the National Institute of Standards and Technology (NIST) in the United States has released FIPS 203, which is the Modular lattice key encapsulation standard. The hybrid key exchange currently used in browsers and networks is based on this standard.
This prediction comes from a third party and does not constitute a guarantee, and there is still controversy regarding the timeline for the realization of quantum capabilities. What is undisputed, however, is that large infrastructure providers have begun to announce their migration timelines, and quantum hardware companies are also reporting rapid revenue growth on a smaller scale. Together, these factors are prompting more enterprises to put post-quantum preparations on their agendas.
Smaller companies are also making arrangements targeting the same group of buyers. This week, QSE, a company based in Vancouver that describes itself as a post-quantum data security firm, added a new senior executive in threat intelligence to its leadership team.
Quantum Secure Encryption Corp. ( CSE : QSE ) ( OTCQB : QSEGF ) ( FSE : VN80 ) Appoints Senior Threat Intelligence Expert Joseph Hall as Chief Intelligence Officer
- With over 20 years of experience in frontline network security and threat intelligence, join the leadership team.
- Formerly served as the Threat Intelligence R&D Director for Infoblox and the Chief Security Advisor for Fortinet.
- Hall will work closely with the Chief Technology Officer Michael Massing; Massing previously led the Unified Threat Management business unit of Dell SonicWall.
- Responsibilities include customer deployment, solution validation, technical integration with partners, and adjusting the capabilities of QSE to meet the needs of enterprises and governments.
- QSE also announced the granting of 350,000 stock options and 350,000 restricted stock units to employees.
QSE announced on September 30, 2026, the appointment of Joseph Hall as Chief Intelligence Officer. The company describes itself as a post-quantum cybersecurity firm specializing in quantum-resistant data protection, identity security, secure storage, and password migration readiness. It stated that this appointment brings over 20 years of frontline cybersecurity and threat intelligence experience to the company, which will help to enhance business execution and customer deployment support.
Hall has held senior cybersecurity positions in the fields of threat research, security services, network defense, and enterprise security. According to QSE, his experience includes roles such as Director of Threat Intelligence Development at Infoblox, Head of Security Services at Nile, Chief Security Advisor at Fortinet, and Chief Information Security Officer at HEROIC Cybersecurity. In addition, he has held earlier security engineering positions at Dell SonicWall, Sophos, Symantec PGP, American Express, and Solera Networks. His work has included providing security support for the 2016 Rio Olympics, managing large-scale Google Cloud security infrastructure, and participating in threat intelligence projects involving billions of leaked credentials.
Hall indicates that "Threat intelligence is most valuable when it can help organizations make better security decisions and respond more effectively to constantly changing risks." QSE already has a strong technical platform and has entered the market. I look forward to collaborating with Mike and a broader team to help adjust its capabilities to real customer environments and ensure that organizations can deploy appropriate solutions to address the threats they face.
Hall will collaborate with QSE's Chief Technology Officer, Michael Massing. Massing's background includes leading the Unified Threat Management business unit at Dell SonicWall, and helping to expand the enterprise network security product line to annual sales of approximately $400 million. In his role, Hall will assist QSE in applying real-world threat intelligence to customer deployments and solution validation, refining customer use cases, supporting partner technology integration, and contributing technical leadership.
QSE CEO Ted Carefoot stated that the company is building a leadership team capable of connecting threat intelligence, business execution, and customer needs in order to seize larger and more demanding opportunities. At the same time, the company announced the granting of 350,000 stock options to employees, with an exercise period of five years from the grant date, subject to certain vesting requirements; an additional 350,000 restricted stock units were also granted, which are also subject to vesting requirements and will expire three years after the grant date.
Quantum Secure Encryption Corp. (CSE : QSE) (OTCQB : QSEGF) (FSE : VN80) is a Canadian technology company that focuses on post-quantum data security, encryption, and secure data infrastructure. The company states that its solutions are built around quantum-generated entropy and zero-knowledge architectures, aiming to help protect sensitive data from current cyber threats and future quantum attacks, serving businesses, enterprises, and public sector organizations that require long-term data confidentiality. For more information, see www.qse-corp.com.
There are several risks associated with the company's plans. The appointment of senior executives does not in itself generate customer contracts or revenue, and there is uncertainty regarding the timeline and market forecasts for the adoption of Post-Quantum. Additionally, the options and restricted stock units announced by the company come with conditions regarding ownership and other terms. Investors should refer to the public documents of QSE available at SEDAR + ( www.sedarplus.ca ), as well as the risk warnings contained in its press releases.
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Other industry developments and updates in the market this week include:
Cloudflare, Inc. (NYSE : NET)
On September 29th, Cloudflare announced its plan to become a public certificate issuing authority, which will issue both traditional certificates and post-quantum Merkle Tree certificates. The production and issuance of post-quantum certificates is scheduled to begin in the first quarter of 2027.
In the post-quantum roadmap released in April, Cloudflare set 2029 as the goal for all its products to achieve full post-quantum security, and stated that over 65% of the artificial traffic on their network is already using post-quantum encryption. The company also mentioned that these upgrades will be free of charge for all customer packages.
IonQ, Inc. (NYSE : IONQ)
IonQ announced revenue of $80.1 million for the second quarter of 2026, a year-on-year increase of 287%; as of June 30, cash, cash equivalents, and investments amounted to $3 billion. Its quantum security highlights include ClavisXG Multiplex, which aims to achieve high-performance key distribution on existing network infrastructure.
On September 8th, after acquiring SkyWater Technology, IonQ raised its full-year revenue forecast for 2026 to between $450 million and $460 million. Chairman and CEO Niccolo stated: "We are now implementing a shared roadmap that will accelerate our timeline and capabilities to achieve commercial-scale, fault-tolerant quantum computing."
Akamai Technologies, Inc. (Nasdaq : AKAM)
On September 24th, Akamai announced that it had reached a multi-year agreement with Anthropic lasting for seven years, worth $11.6 billion, to provide them with distributed AI infrastructure and cloud computing services. The company stated that this agreement will not affect its revenue guidance for 2026 and is expected to result in additional capital expenditures of about $1.7 billion in 2026.
Akamai has also enabled post-quantum cryptography on its edge network, supporting X25519MLKEM768 hybrid key groups based on the NIST FIPS 203 standard. Eligible customers do not need to pay an additional fee; the company also stated that it plans to set this feature as the default option for Enhanced TLS customers in the first quarter of 2026.
Okta, Inc. (Nasdaq : OKTA)
Okta announced its financial results for the second quarter of fiscal year 2027 on August 26, with total revenue reaching $805 million, a year-on-year increase of 11%; subscription revenue was $793 million, up 12% year-over-year. The remaining performance obligations amounted to $4.858 billion, showing a year-on-year growth of 17%.
Okta has provided revenue guidance for the fiscal year 2027 of $3.216 billion to $3.226 billion. CEO Todd McKinnon stated: "As AI changes every layer of proxy technology, each proxy requires a credible identity." Identity security is also one of the areas listed as a focus in QSE's own business description.
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