RFI and Safeheron Launch Cross-Jurisdictional Pilot to Stress-Test Post-Quantum Cryptography for Digital Asset Transactions
RFI and Safeheron Launch Cross-Jurisdictional Pilot to Stress-Test Post-Quantum Cryptography for Digital Asset Transactions #
The Responsible Fintech Institute (RFI), a Singapore-based nonprofit, has partnered with digital asset custody infrastructure provider Safeheron to run a live pilot programme testing post-quantum cryptography (PQC) for financial institutions handling digital asset transactions.
Announced on 23 August, the initiative brings banks and regulators from multiple jurisdictions together to test quantum-safe financial infrastructure in live conditions rather than theoretical frameworks. The pilot’s longer-term goal is to open-source the quantum-resilient infrastructure it develops, so the broader industry can build on its findings.
The programme uses a multi-party computation (MPC) protocol supporting ML-DSA-65, a post-quantum digital signature standard formally published by the US National Institute of Standards and Technology, running on a quantum-resistant NEAR blockchain testnet. Participating banks Bison Bank and DK Bank will use this environment to test wallet generation and digital asset transfers in a shared application setting.
Three regulatory bodies have joined as observer stakeholders: the Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office, and Malta’s Financial Services Authority, giving the pilot a geographic footprint spanning the Gulf, South Asia, and Europe.
The broader aim is to help financial institutions map out how secure digital asset transaction flows could work across regions as they prepare for what regulators have called a “quantum-safe future,” in line with supervisory expectations around cyber resilience.
RFI describes itself as an independent organisation focused on bridging traditional and decentralised finance through standards, governance, and responsible adoption. In this pilot, it is the convener, bringing together regulators, banks, and market infrastructure players, while also supporting governance and publication of the research findings. Safeheron provides the cryptographic infrastructure for the tests.
The pilot is part of a broader set of industry-led efforts to strengthen financial market infrastructure against the threat posed by future quantum computers, which are widely expected to break widely used public-key encryption schemes well before the end of the decade.
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