A cross-regional pilot led by the Responsible Fintech Institute and Safeheron is testing post-quantum cryptography for digital asset transactions, involving banks and regulators across multiple jurisdictions to evaluate quantum-resistant infrastructure in a regulated setting.

A forthcoming white paper will detail research, protocol design, and test findings, with the underlying technology planned for open-sourcing.

The pilot contemplates a non-custodial 2-of-2 MPC participation model to balance security with operational practicality, simulating real institutional conditions.

The initiative is driven by the accelerating development of AI and quantum computing, underscoring the urgency of implementing quantum-ready infrastructure.

Testing uses the NEAR protocol testnet to simulate transfers and wallet generation, enabling assessment of performance and security without risking real assets.

The pilot aims to accelerate practical preparedness against quantum risks, seeking to create a compliant, universally accepted security reference for the industry.

RFI chair Chia Hock Lai emphasizes collaboration across banks, vendors, and regulators to test a common post-quantum architecture and openly share research to establish a comprehensive compliance and security reference.

Regulators, including the Gelephu Financial Services Office and the Malta Financial Services Authority, stress safeguarding client funds and maintaining transaction integrity during digital asset operations.

David Peters of the Gelephu Financial Services Office endorses industry efforts to identify reliable protocols for protecting digital asset transactions.

Leaders highlight collaboration among banks, regulators, and policymakers to create a transparent, standards-aligned reference architecture for quantum-safe finance.

Milestones include wallet and transfer testing, governance review, white paper publication, and releasing the underlying code to demonstrate practical performance and security properties.

Open-sourcing the protocol code is a safety and transparency goal, enabling independent security audits and accountability, with Safeheron signaling its intent to publish the code and Bison Bank among supporters.