Zumo and Quantum Chain Partner on Quantum-Resilient Finance

Insider Brief

• Zumo and Quantum Chain have signed a memorandum of understanding to explore quantum-resilient infrastructure for UK digital assets and blockchain-based financial services.
• The collaboration will examine applications across private networks, tokenised deposits, payments and institutional digital assets, including a potential quantum-resistant GBP stablecoin subject to regulatory requirements.
• The companies aim to support cryptographic agility and post-quantum security for financial institutions as concerns grow about future quantum computers that could compromise current public-key cryptography.

PRESS RELEASE — Crypto-as-a-service platform Zumo has signed a Memorandum of Understanding (MoU) with Quantum Chain, a quantum-resilient blockchain and infrastructure platform, with the companies uniting to help safeguard the UK’s developing digital assets sector against the spectre of future quantum threats. 

There are growing fears regarding the imminence of Cryptographically Relevant Quantum Computers (CRQCs) that will soon be able to break standard public-key cryptography that underpins blockchain security, asset ownership, and institutional custody. 

In response, the National Cyber Security Centre (NCSC) is advising financial institutions to ensure they are completely migrated to post-quantum cryptography (PQC) by 2035. Most estimates point to the 2030s for ‘Q-Day’, which will herald the arrival of CRQCs powerful enough to break public-key encryption standards using algorithms like Shor’s algorithm.