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9h ago

HKMA Rates Hong Kong Banks 2.3/10 on Quantum Readiness

The low score signals an urgent push to migrate banks to post-quantum cryptography to protect tokenized assets before a 2030 readiness target.

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Via tripadvisor.com
Hong kong’s central bank puts a number on lenders' quantum preparedness. it's very low.

Overview

  • The Hong Kong Monetary Authority published a Quantum Preparedness Index on Monday, July 27, and gave the banking sector a 2.3 out of 10.
  • The index measured four stages of readiness—awareness, planning, pilot projects, and operational readiness—and found most banks still in early stages of the transition.
  • HKMA survey results showed 68% of banks had begun some preparations while 32% had taken no steps, and about half reported no formal roadmap for adopting post-quantum cryptography.
  • To close the gap the HKMA is working with the Hong Kong University of Science and Technology to deliver a PQC toolkit and training workshops and to embed PQC into its DART/Fintech 2030 resilience programme.
  • The regulator tied the push to its tokenization work on Project Ensemble and Ensemble TX, saying tokenized deposits and securities depend on cryptographic signatures and digital keys that PQC is designed to protect, creating near-term demand for PQC vendors and consultancies.