RFI and Safeheron launch a quantum-resistant wallet test with three regulators and two banks. See which institutions are participating and what the 2030 target means.
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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 (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. The program relies on a multiparty computation protocol that 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, giving participants a controlled environment to try out new wallet and transfer methods.
RFI named three regulators involved in the pilot: 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 will generate wallets and carry out transfers inside a shared application environment, letting 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, they plan to join a governance workstream to 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, covering the research, protocol design and test findings. The groups also intend to open-source the underlying technology so other developers and institutions can build on the work.
The pilot comes as financial authorities prepare for a future where quantum computers could break the public-key cryptography protecting most digital financial systems. The Hong Kong Monetary Authority has already set a target date for its banking sector to be fully prepared for quantum-related security risks by 2030. A paper from the Bank for International Settlements published last year urged financial institutions to begin coordinated, phased migrations toward post-quantum systems.
Quantum computing remains years away from practical use against current encryption. Still, institutions are choosing to test defenses early, and the RFI and Safeheron pilot gives regulators from three regions direct visibility into how post-quantum wallet technology performs in practice.
The project remains in its testing phase. Results and published findings will determine what comes next for the participating banks and regulators.
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