HKUST and HKMA Launch PQC Toolkit for Banks

Insider Brief

• The Hong Kong University of Science and Technology (HKUST) and the Hong Kong Monetary Authority (HKMA) have launched a Post-Quantum Cryptography (PQC) Toolkit to help banks plan their transition to quantum-safe cryptography.
• The toolkit provides guidance and practical tools for assessing cryptographic assets and dependencies, setting migration priorities, assigning responsibilities and developing transition timelines.
• The initiative supports the HKMA’s goal of raising the banking sector’s Quantum Preparedness Index (QPI) from 2.3 out of 10 in July 2026 to 10 by 2030.

PRESS RELEASE — The Hong Kong University of Science and Technology (HKUST) and The Hong Kong Monetary Authority (HKMA) today (2 November) launched the Post-Quantum Cryptography (PQC) Toolkit (Toolkit), with support from industry participants. The Toolkit sets out a structured and comprehensive framework to guide banks in planning and advancing their PQC transition journeys.

The Toolkit supports banks in establishing clear governance and accountability, assessing cryptographic exposure, identifying transition needs, as well as monitoring implementation progress.  The Toolkit also brings together key planning considerations to facilitate an orderly and risk-based transition.