This is a port of TMK's converter/terminal_usb to QMK.
It supports PS/2 Scan Code Set 3 and runs on USB AVR chips such like PJRC Teensy. I tested the converter on ATMega32U4 with 1392595(102keys) and 6110345(122keys).
Source code: https://github.com/qmk/qmk_firmware.git
Article: http://geekhack.org/index.php?topic=27272.0
Keyboard | ATMega32U4 :------- | :--------- Data | PD2 Clock | PD5
And VCC and GND, of course. See Resource section for keyboard connector pin assign.
git clone https://github.com/qmk/qmk_firmware.git
cd qmk_firmware
make converter/ibm_terminal:default