Hong Kong is accelerating its push toward quantum-safe banking after the Hong Kong Monetary Authority (HKMA) introduced a new framework to measure the financial sector’s preparedness for quantum computing. The initiative includes the publication of a Quantum Preparedness Whitepaper and the launch of the first Quantum Preparedness Index (QPI), marking a significant step in the regulator’s broader Fintech 2030 strategy.
The move comes as financial institutions worldwide assess how future advances in quantum computing could affect cybersecurity, encryption standards, and the infrastructure supporting digital assets and tokenized finance. The HKMA said it aims to help the entire banking sector achieve full quantum readiness by 2030.
Current State of Readiness
The inaugural Quantum Preparedness Index gave Hong Kong’s banking sector a score of 2.3 out of 10, highlighting that most institutions remain in the early stages of preparing for the quantum era.
According to the regulator’s survey:
- About 68% of banks have begun raising awareness, planning initiatives, or running pilot programs related to quantum technologies.
- Roughly 32% have not yet started their transition.
- Around half of surveyed banks still lack a formal roadmap for adopting post-quantum cryptography.
The findings also show growing executive engagement. Nearly half of participating banks reported that quantum computing has already been discussed at the board level, while approximately one-third have started exploring practical quantum-related use cases.
Supporting Tokenized Finance
The quantum preparedness initiative forms part of Hong Kong’s wider Fintech 2030 roadmap, which combines artificial intelligence, digital payments, cyber resilience, and tokenization into a unified financial innovation strategy. As tokenized deposits, digital assets, and blockchain-based financial infrastructure continue expanding, regulators view stronger cryptographic resilience as essential for protecting future financial systems.
To accelerate the transition, the HKMA plans to develop a post-quantum cryptography toolkit in collaboration with industry and academic partners while organizing workshops to help banks improve technical capabilities and migration planning.
By establishing measurable benchmarks and practical guidance, Hong Kong hopes to ensure its banking industry can securely support the next generation of digital finance while remaining resilient against future quantum computing threats.
