TLDR
- Banks and financial regulators across Europe, the Middle East and Asia have joined a pilot testing quantum-resistant crypto wallets and transfers.
- The Responsible Fintech Institute and Safeheron announced the initiative on Monday.
- The pilot uses a multiparty computation protocol supporting ML-DSA-65, a post-quantum signature standard from NIST, on a quantum-resistant NEAR testnet.
- Regulators from Abu Dhabi, Bhutan and Malta are observing the first phase, while Bison Bank and DK Bank test the technology directly.
- Organizers plan to publish a white paper and later open-source the technology.
A group of banks and financial regulators has joined a pilot program testing quantum-resistant infrastructure for digital asset wallets and transfers.
The Responsible Fintech Institute, known as RFI, and crypto custody provider Safeheron announced the project on Monday.
The pilot brings together institutions from Europe, the Middle East and Asia. Each is testing how crypto systems might hold up against future quantum computing threats.
How the Pilot Works
The program relies on a multiparty computation protocol. This protocol supports ML-DSA-65, a post-quantum digital signature standard published by the US National Institute of Standards and Technology.
Testing takes place on a quantum-resistant NEAR testnet. This gives participants a controlled environment to try out new wallet and transfer methods.
RFI named the regulators involved in the pilot. They include Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office and Malta’s Financial Services Authority.
Two banks are taking a more hands-on role. Bison Bank and DK Bank are participating as financial institutions in the test.
These banks will generate wallets and carry out transfers inside a shared application environment. This lets organizers compare results across different institutions.
Regulators are taking a different approach in the early stage. They will observe the first phase of testing rather than run transactions themselves.
Later on, regulators plan to join a governance workstream. This means they will help shape rules and standards once the initial testing wraps up.
Organizers noted that participation levels differ between institutions. Some are testing directly, while others are watching and gathering information.
RFI and Safeheron plan to publish a white paper once the pilot concludes. The paper will cover the research, protocol design and test findings.
The groups also intend to open-source the underlying technology. This would let other developers and institutions build on the work later.
Preparing for Quantum Risk
The pilot comes as financial authorities around the world prepare for a future where quantum computers exist. Such computers could potentially break the public-key cryptography that protects most digital financial systems today.
The Hong Kong Monetary Authority has already set a target date for its own banking sector. It aims to make Hong Kong’s banks fully prepared for quantum-related security risks by 2030.
A separate paper from the Bank for International Settlements added to the conversation last year. Published in 2025, the paper urged financial institutions to begin coordinated, phased migrations toward post-quantum systems.
Together, these efforts point to a broader shift in how banks and regulators think about long-term security. Quantum computing remains years away from practical use against current encryption, but institutions are choosing to test defenses early.
The RFI and Safeheron pilot adds another data point to that trend. It gives regulators from three different regions direct visibility into how post-quantum wallet technology performs in practice.
For now, the project remains in its testing phase. Results and any published findings will determine what comes next for the participating banks and regulators.
The post Banks and Regulators Test Quantum-Resistant Crypto Wallets in New Pilot appeared first on Blockonomi.
