Banks and financial regulators from Europe, the Middle East and Asia joined a cross-regional pilot on August 24, 2026, testing post-quantum security for digital asset wallets and blockchain transfers. The initiative is convened by the Responsible Fintech Institute (RFI) with digital asset custody infrastructure provider Safeheron as technology partner.
The pilot evaluates a multiparty computation (MPC) protocol that supports ML-DSA-65, a digital signature standard from the U.S. National Institute of Standards and Technology’s FIPS 204. Participating banks Bison Bank and DK Bank will test quantum-resistant wallet generation and on-chain transfers in a shared application environment on the quantum-resistant NEAR testnet. Regulators from Abu Dhabi Global Market (ADGM), Bhutan’s Gelephu Financial Services Office (GFSO) and the Malta Financial Services Authority (MFSA) are initially participating as observers and will later contribute to governance workflows.
Organizers aim to assess cross-border interoperability, operational resilience and governance considerations alongside the technical evaluation. Plans include publishing a white paper covering research, protocol design and test results, followed by eventually open-sourcing the underlying technology. The effort comes as financial authorities worldwide prepare for the potential future threat that sufficiently powerful quantum computers could pose to current public-key cryptography used in blockchain systems.
No cryptographically relevant quantum computer currently exists that can break deployed blockchain signatures at scale, but the pilot represents one of the first structured efforts bringing banks, regulators and quantum-safe crypto infrastructure together in a controlled testnet setting.
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The project underscores growing industry focus on long-term cryptographic resilience for digital assets. Participants emphasize that no single bank, vendor or regulator can solve the challenge alone. Advances in post-quantum standards and practical testing of this kind help prepare the financial sector for future risks while supporting continued innovation in secure security practices for wallets and transfers.
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As the pilot progresses and results are shared, the broader industry will gain practical insights into implementing quantum-resistant solutions for digital asset custody and on-chain activity across multiple jurisdictions.