A collaborative pilot evaluating post-quantum cryptography for digital asset infrastructure launched on August 24, 2026, bringing together selected banks and regulatory authorities from Europe, the Middle East and Asia. Convened by the Responsible Fintech Institute with Safeheron as technology partner, the initiative tests quantum-resilient methods for wallet creation and on-chain transfers in a controlled, multi-jurisdiction setting.

Pilot Structure and Technical Approach

Participating financial institutions will generate wallets and execute transfers using a multi-party computation protocol that incorporates ML-DSA-65, the digital signature standard finalized by the U.S. National Institute of Standards and Technology under FIPS 204. Activity takes place on a quantum-resistant version of the NEAR testnet. The design employs a non-custodial 2-of-2 key arrangement so that no single party holds a complete private key.

Bison Bank and DK Bank are conducting the technical tests. Supervisory authorities from Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office and the Malta Financial Services Authority are taking part in the initial phase, with plans for a subsequent governance workstream that will address operational resilience, cross-border interoperability and oversight considerations. Additional institutions are reported to be in discussions to join later stages.

The exercise remains confined to a shared application environment and testnet conditions. It does not involve the public NEAR mainnet or customer funds. Organizers intend to publish a white paper detailing the research, protocol design and findings, and plan to release the underlying protocol as open-source software to support independent review.

Statements from Participants

Safeheron, which developed the multi-party computation protocol and ML-DSA-65 implementation, has stressed the importance of open cryptographic standards for institutional use. The company’s Chief Security and Policy Officer noted that artificial intelligence developments are accelerating technological change and that quantum-ready systems have become increasingly urgent.

Bison Bank’s chief executive described the effort as a constructive contribution to industry understanding of future cybersecurity requirements. Representatives from the Gelephu Financial Services Office and the Malta Financial Services Authority also expressed support for collaborative exploration of reliable protocols and practical operational considerations associated with the transition to quantum-safe systems.

Broader Context for Quantum Readiness

Public-key cryptography that underpins much of today’s financial infrastructure faces long-term risks from advances in quantum computing. A 2025 paper from the Bank for International Settlements stated that migration requires coordinated planning, cryptographic agility and phased implementation rather than a simple algorithm substitution.

Regulatory attention has intensified. In July 2026 the Monetary Authority of Singapore and the Association of Banks in Singapore established a taskforce focused on cyber and technology resilience against emerging threats linked to advanced artificial intelligence models. The Hong Kong Monetary Authority has incorporated quantum readiness into its Fintech 2030 strategy, introducing a Quantum Preparedness Index and targeting full sectoral readiness by 2030.

Earlier work, such as the Bank for International Settlements’ Project Leap, examined post-quantum signatures primarily at the payment-messaging layer. The current pilot focuses instead on the wallet layer, with participating banks retaining partial control of signing keys under the multi-party computation model.

The Responsible Fintech Institute, an independent nonprofit established in 2025, is coordinating governance, stakeholder engagement and eventual publication of findings. Safeheron is responsible for the protocol engineering and testing environment. Both organizations position the pilot as a practical step toward shared reference standards that regulated institutions can evaluate as they prepare for a quantum-safe operating environment.