Banks, regulators join quantum-resistant crypto transfer pilot

Participating banks will test post-quantum wallets and onchain transfers while regulators from Abu Dhabi, Bhutan and Malta initially observe.Banks and financial regulators across Europe, the Middle East and Asia have joined a pilot testing quantum-resistant infrastructure for digital asset wallets and onchain transfers. The Responsible Fintech Institute (RFI) and crypto custody infrastructure provider Safeheron announced the initiative on Monday. The pilot uses a multiparty computation protocol supporting ML-DSA-65, a post-quantum digital signature standard published by the US National Institute of Standards and Technology, on a quantum-resistant NEAR testnet.RFI said participating regulators include Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office and Malta’s Financial Services Authority, while Bison Bank and DK Bank are participating as financial institutions. The banks will test wallet generation and transfers in a shared application environment. Meanwhile, regulators will observe the first phase and contribute to a governance workstream later, with participation levels differing between institutions. The organizers plan to publish a white paper covering the r...