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Banks and regulators test quantum-resistant crypto wallet transfers
The pilot will use ML-DSA-65 post-quantum signatures on a quantum-resistant NEAR testnet, with regulators observing an initial phase.
Banks and financial regulators across Europe, the Middle East and Asia have joined a pilot to test quantum-resistant infrastructure for digital asset wallets and onchain transfers, according to Cointelegraph.
The Responsible Fintech Institute, or RFI, and crypto custody provider Safeheron announced the initiative, which will use a multiparty computation protocol supporting ML-DSA-65, a post-quantum digital signature standard published by the US National Institute of Standards and Technology, on a quantum-resistant NEAR testnet.
Cointelegraph reports that RFI said participating regulators include Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office and Malta’s Financial Services Authority, while financial institutions in the test include Bison Bank and DK Bank.
The banks will test wallet generation and transfers in a shared application environment as regulators observe the first phase and later contribute to a governance workstream, with the organizers planning a white paper and eventual open-sourcing of the underlying technology.