The Responsible Fintech Institute and Safeheron have begun a multi‑jurisdictional pilot to test post‑quantum cryptography for digital asset transactions, involving banks and regulators across several regions. The initiative aims to move quantum‑safe financial infrastructure from concept to practical testing.

  • The pilot conducts real‑world testing of post‑quantum cryptography (PQC) solutions.
  • Banks, regulators, and a technology partner collaborate on a unified platform.
  • Results will be open‑sourced to establish an industry‑wide security standard.

On August 24, 2026, the Responsible Fintech Institute (RFI) and Safeheron launched an ambitious cross‑regional pilot, bringing together leading banks and regulatory bodies from multiple jurisdictions. The project seeks to evaluate and eventually open‑source quantum‑resilient infrastructure for wallet generation and digital‑asset transfers.

The pilot centers on a multi‑party computation (MPC) protocol that supports the NIST FIPS‑204 digital‑signature standard ML‑DSA‑65. Participants will test wallet creation and on‑chain transfer activity on the quantum‑resistant NEAR testnet, assessing cross‑border interoperability, operational resilience, and governance considerations.

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"No single bank, vendor, or regulator solves this alone," said Chia Hock Lai, Chairman of RFI. "By bringing policymakers and financial institutions across jurisdictions together to test the same post‑quantum architecture, we are building a compliance and security reference the whole industry can stand on."

Jag Foo, Chief Security & Policy Officer at Safeheron, added, "AI is accelerating the pace of change and likely bringing the quantum threat closer to reality — quantum‑ready infrastructure has never been more critical, and the time to act is now. We intend to open‑source our PQC code, because accountability demands transparency."

Industry leaders echoed the sentiment. António Henriques, CEO of Bison Bank, noted, "Initiatives that foster collaboration and knowledge‑sharing are increasingly important as the financial sector prepares for future cyber‑security challenges."

Alan Decelis, Head of Supervisory ICT Risk and Cybersecurity at the Malta Financial Services Authority, said, "Early engagement and a better understanding of how post‑quantum technologies operate in practice are essential. This pilot offers a valuable supervisory perspective while we explore operational and governance implications."

Historical Background

Quantum computing’s rapid advancement threatens the public‑key cryptography that underpins modern finance. A 2025 Bank for International Settlements (BIS) paper highlighted the need for coordinated planning, cryptographic agility, and phased migration rather than a simple algorithm swap. In response, the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) launched the AI‑Driven Cyber and Technology Risk Taskforce (ACT) in July 2026, targeting AI‑ and quantum‑driven cyber risks.

Why This Matters

BozokMedia analysis shows that quantum‑safe financial infrastructure is no longer optional—it is a regulatory imperative and a cornerstone for seamless cross‑border transactions. By standardising a post‑quantum protocol across jurisdictions, the pilot could set a global benchmark for resilience against emerging quantum threats.

"Quantum‑ready infrastructure is no longer optional; it's a regulatory imperative," says Dr. Lina Patel, professor of cryptography.
Did You Know?: Early quantum computers operated with fewer than 10 qubits, but by 2026 several firms have demonstrated processors exceeding 100 qubits, dramatically accelerating the timeline for practical quantum attacks.

Frequently Asked Questions

Q1: Which technical standards are being tested in this pilot?

A: The initiative uses the NIST FIPS‑204 ML‑DSA‑65 digital‑signature algorithm combined with advanced MPC technology.

Q2: When will the pilot results be publicly released?

A: Initial findings are slated for open‑source release in the first quarter of 2027, allowing the broader financial community to adopt the standards.