Banks move to secure digital assets against future quantum threats

Responsible Fintech Institute (RFI) and Safeheron have launched a cross-regional pilot to test post-quantum cryptography for digital asset transactions, bringing banks and regulators together to assess how financial institutions can prepare for the potential threat posed by quantum computing.

The pilot will test quantum-resistant infrastructure across wallet generation and on-chain transactions, while also examining cross-border interoperability, operational resilience and governance. The initiative is designed to move post-quantum security beyond theoretical research and into a controlled financial services environment.

The programme centres on a multi-party computation (MPC) protocol supporting ML-DSA-65, the digital signature standard established under the National Institute of Standards and Technology’s FIPS 204 framework. Participants will conduct testing on the quantum-resistant NEAR testnet as they assess how the technology could operate across different financial institutions and jurisdictions.

The project brings regulators into the testing process alongside banks and technology providers. Abu Dhabi Global Market, the Gelephu Financial Services Office and the Malta Financial Services Authority will participate as observers during the initial phase before joining a governance workstream in the next stage.