Banks and regulators launch quantum safe crypto pilot

Banks and financial regulators from Europe, the Middle East and Asia joined a cross regional pilot testing post quantum security for digital asset wallets and blockchain transfers on Aug. 24. Summary Two banks will test quantum resistant wallets and transfers on a specialized NEAR testnet environment. Regulators from Abu Dhabi, Bhutan and Malta will initially observe the pilot’s first phase activities. The protocol combines multiparty computation with NIST standardized ML-DSA-65 signatures for secure digital asset transfers. Organizers plan a white paper covering test results before eventually releasing the underlying protocol publicly. No cryptographically relevant quantum computer currently exists that can break deployed blockchain signatures at scale. The Responsible Fintech Institute convened the project with digital asset custody infrastructure provider Safeheron as its technology partner, according to the official announcement. Bison Bank and DK Bank will test wallet creation and onchain transfers in a shared application environment. Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office and the Malta Financial Services Authority will initially participate as obs...