HSBC pilots quantum-safe technology for tokenised gold
HSBC has announced it has successfully trialled the first application of quantum-secure technology for buying and selling tokenised physical gold. This achievement marks the latest step by HSBC in pioneering the protection of critical applications from potential future quantum computing attacks, says the firm.
As part of the quantum pilot, Quantinuum, the
world’s largest integrated quantum computing company, used PQC algorithms and
its Quantum Origin quantum randomness technology to demonstrate holistic
protection of digital assets such as HSBC gold tokens from a quantum computing
attack, and prevent ‘store now, decrypt-later (SNDL) cyber incidents.
Philip Intallura, global head of Quantum
Technologies, HSBC, comments: “HSBC was the first international bank to offer
tokenised physical gold and is now building on that innovation with
cutting-edge cybersecurity protection for the future. This pilot successfully
demonstrated the viability of deploying these advanced technologies for a
real-world business environment.”
Ilyas Khan, Quantinuum founder and chief product
officer, adds: “As long-time partners in exploring commercial quantum
applications, HSBC and Quantinuum are together building the next generation of
financial services featuring quantum-hardened defences harnessing the power of
today’s quantum computers to safeguard sensitive data now and into the future.”
Source: https://www.assetservicingtimes.com