The Alliance joins hands with banks and regulators to launch a post-quantum security cross-regional

The Institute for Responsible Financial Technology and Safeheron jointly launched the Post-Quantum Cryptography Pilot Project

The pilot project convened by the Responsible Fintech Institute and provided technical support from Safeheron was officially launched to evaluate and ultimately open source quantum security infrastructure for wallet generation and digital asset transfer in a regulated cross-border environment.

Singapore, August 24, 2026-The Institute for Responsible Financial Technology (RFI) and Safeheron jointly launched a pilot program inviting multiple financial institutions and cross-jurisdictional regulators to participate in evaluating post-quantum cryptography (PQC) applications in digital asset transactions. The plan aims to advance quantum secure financial infrastructure from proof of concept to actual testing by participating institutions.

The pilot will focus on post-quantum cryptography research projects based on the Multi-Party Computing (MPC) protocol, which supports the ML-DSA-65 algorithm in the NIST FIPS 204 digital signature standard. Participating institutions will test wallet generation and online transfer functions on the anti-quantum NEAR test online. This project brings together banks and regulators from many countries to simultaneously study cross-border interoperability, operational resilience and governance frameworks while conducting technical assessments.

"No bank, supplier or regulator can solve this problem alone," said Xie Fulai, chairman of the Institute for Responsible Financial Technology. "By having policymakers and financial institutions in different jurisdictions jointly test the same post-quantum architecture and transparently share research results, we are building compliance and security benchmarks that the entire industry can rely on-a set of standards that we have jointly participated in. "

" Artificial intelligence is accelerating the pace of change, potentially making quantum threats a reality sooner-quantum-ready infrastructure has never been more critical and must now act,"said Jag Foo, Safeheron's chief security and policy officer. "By combining the NIST post-quantum signature standard with advanced MPC technology, we are building the core architecture needed to secure the next generation of financial networks. Safeheron has long advocated open source cryptography because accountability and good governance require it. We plan to open source PQC code. Cryptography that protects agency assets must withstand independent review rather than rely on trust. "

" As the financial industry prepares for future cybersecurity challenges, initiatives to encourage collaboration and knowledge sharing among industry participants are becoming increasingly important,"said António Henriques, CEO of Bison Bank. "We are pleased to support discussions on post-quantum security and contribute to a broader understanding of how the financial industry responds to the evolving risk landscape. "

"We welcome the industry's initiative to identify reliable protocols that protect digital asset transactions," said David Peters, managing director of Gelephu's Office of Financial Services. "Ensuring the continued integrity of these transactions and protecting client funds is critical to the smooth functioning of the investment market. "

" Preparing for the potential impact of quantum computing on the financial system requires early participation, collaboration and a better understanding of how post-quantum technology works in practice,"said Alan Decelis, head of regulatory ICT risk and cybersecurity at the Financial Services Authority (MFSA) of Malta. "MFSA welcomes initiatives to bring regulators, financial institutions and technical experts together in a controlled environment to explore these challenges. Participation in this pilot provides a valuable opportunity to both contribute regulatory perspectives and deepen our understanding of the operational, governance, and resilience issues involved in the transition to quantum secure financial services. "

Why quantum security infrastructure matters

It is widely expected that quantum computing will pose long-term risks to public key cryptography that underpins most areas of the current financial system, so transition planning for the financial industry is increasingly important. As the Bank for International Settlements (BIS) 2025 paper on the quantum readiness of the financial system states, this transition requires coordinated planning, cryptographic agility, and phased migration rather than simple algorithmic replacements.

At the same time, regulators are increasing their attention to the risks of artificial intelligence and quantum-driven networks. In July 2026, the Monetary Authority of Singapore (MAS) and the Association of Singapore Banks (ABS) announced the establishment of the "Artificial Intelligence Driven Network and Technology Risk Working Group (ACT)," an industry-wide initiative to strengthen collective network and technological resilience to respond to emerging threats posed by cutting-edge AI models. At the regional level, the Hong Kong Monetary Authority (HKMA) has incorporated quantum readiness into its "Fintech 2030" strategy, released a quantum readiness index and white paper to measure banks 'transition to backward quantum cryptography, and demonstrated that industry-wide ambition to achieve quantum readiness by 2030.

In this pilot, participating institutions will test a shared application environment to implement quantum-resistant MPC signatures under consistent conditions. Regulators assume an observer role in the first phase and participate in the governance workflow in the next phase. The proof-of-concept will also release a white paper covering research, protocol design and testing results to facilitate and build on a broader market assessment and enhance collective learning and preparation in the industry. In addition, the underlying protocol technology will eventually be open source to maximize transparency, encourage independent security audits, and promote accountable industry standards.

About pilot projects

The proof-of-concept is positioned as a collaborative project for regulated financial institutions, with Safeheron responsible for protocol and engineering work, and the Institute for Responsible Fintech responsible for governance, convening and cross-jurisdictional stakeholder coordination. Current participants include regulators such as Abu Dhabi Global Markets (ADGM), Gelephu Financial Services Office (GFSO) and Malta Financial Services Authority (MFSA), as well as participating banks such as Bison Bank and DK Bank, and more institutions are negotiating to join.

Participating financial institutions will assist in assessing operational, governance and interoperability considerations related to post-quantum cryptography approaches. The degree of participation may vary according to the agreed roles and scope of each agency.

The pilot design is close to the real institutional operating model, including a tentative unmanaged 2-of-2 MPC participation design designed to minimize operational burdens while maintaining institutional control over key ownership. Its broader goal is to help markets better understand how digital asset trading processes evolve in different regions as financial institutions prepare for a quantum-secure future, while meeting regulators 'expectations for network resilience and quantum readiness.

About the Institute for Responsible Financial Technology

The Institute for Responsible Financial Technology is an independent non-profit organization committed to connecting traditional finance and decentralized finance through standard setting, governance and responsible application. In this pilot project, the agency is responsible for bringing together regulatory agencies, banking and market infrastructure stakeholders across jurisdictions and supporting the governance and release of the initiative's research results.

About Safeheron

Safeheron is a digital asset custody and operation system infrastructure provider focusing on advanced cryptographic infrastructure, including multi-party computing and trusted execution environment capabilities. In this pilot project, the agency is responsible for building the MPC protocol that supports PQC, ML-DSA-65 signature implementation, and test applications for use by authorized participants.