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Coinbase outlines post-quantum custody plans for bitcoin amid quantum risk

Coinbase says its current key management system protects about 99.9% of assets it custodies and targets an automated, quantum-safe signing pipeline within a year.

Reported · Written up by our desk · Market Structure

Coinbase said it is preparing a post-quantum custody system for Bitcoin as researchers and some in the crypto community warn that future quantum computers could eventually break today’s cryptography, even though the threat is not imminent.

The exchange said it is facing hard operational problems in the years ahead, including migrating millions of users and coordinating protocol upgrades across decentralized systems, and it called current quantum chatter a mix of hype and fear alongside real concerns.

Coinbase also described plans for an Independent Advisory Board on Quantum Computing and Blockchain, formed earlier this year, to deliver a post-quantum signing pipeline that uses secure enclaves and threshold cryptography.

Coinbase added that its key management system currently protects approximately 99.9% of the assets it custodies, and that it expects to deliver an automated signing pipeline within the next year to enable quantum-safe custody as blockchains adopt post-quantum schemes, while continuing to coordinate with Bitcoin core developers and cryptographers.

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