Banks, Regulators Launch Quantum-Resistant Crypto Pilot

Banks and financial regulators from Europe, the Middle East, and Asia have launched a pilot program to test quantum-resistant infrastructure for digital asset wallets and on-chain transfers, marking a significant step in preparing the financial sector for potential future threats from quantum computing. The initiative, announced on August 24, 2026, is led by the Responsible Fintech Institute (RFI) in collaboration with digital asset custody technology provider Safeheron. The pilot is being conducted on a quantum-resistant testnet of the NEAR Protocol blockchain.

The program involves participating banks testing wallet generation and transfers using a multiparty computation (MPC) protocol that supports the MLDSA65 digital signature standard, a post-quantum algorithm published by the U.S. National Institute of Standards and Technology (NIST). Bison Bank and DK Bank are the financial institutions participating in the hands-on testing. Regulators from Abu Dhabi Global Market, Bhutan's Gelephu Financial Services Office, and the Malta Financial Services Authority are involved as observers during the initial phase, with their participation levels varying by jurisdiction. Their role is...