The quantum threat is no longer theoretical — the industry is starting to act proactively. The Responsible Fintech Institute (RFI) and the digital asset platform Safeheron have announced the launch of a cross-regional pilot project aimed at testing post-quantum cryptography in real transaction scenarios. Not only technology companies are participating in the initiative, but also representatives of the banking sector and government regulators.
The main objective of the pilot is to test how well quantum-resistant infrastructure can efficiently handle wallet generation and digital asset transfers. Safeheron has taken on the technological part, while RFI coordinates interaction between participants and ensures cross-jurisdictional project governance.
The technical architecture is based on a 2-of-2 MPC protocol with integration of the ML-DSA-65 digital signature standard, compliant with the NIST FIPS 204 specification. The tests will be conducted on the quantum-resistant NEAR testnet, where researchers will verify not only basic operations but also cross-border compatibility, operational resilience, and compliance with governance requirements.
The list of participants is impressive: regulators from Abu Dhabi Global Market, the Gelephu Financial Services Authority (Bhutan), and the Malta Financial Services Authority have joined the project. Among the banks are Bison Bank and DK Bank. At the first stage, government bodies will act as observers, and in subsequent stages, they will become involved in governance and standard-setting issues.
Upon completion of the testing, the authors plan to publish a white paper with a detailed description of the research, protocol design, and results obtained. Moreover, they intend to open-source the underlying technology — an important step for independent audit and further industry adoption.
The RFI and Safeheron initiative is not just an experiment but a strategic preparation of critical financial infrastructure for the inevitable transition to post-quantum standards. The project aims to demonstrate how such solutions behave in regulated financial organizations, which is especially relevant amid growing attention to quantum computing.
Recall that earlier, in August, the crypto bank Anchorage Digital already presented its own strategy for protecting institutional assets from quantum threats, confirming a systemic trend in the industry.
My analysis: The launch of this pilot is a signal that the market is moving from discussing hypothetical risks to practical preparation. Quantum computers capable of breaking current cryptographic algorithms may appear sooner than expected, and those who do not start the migration now risk finding themselves in a vulnerable position. Opening the source code is a particularly savvy move that will allow for standardizing solutions and avoiding fragmentation of approaches.