Institutional development · Industry collaboration · Hong Kong
HKUST and Hong Kong Monetary Authority launch post-quantum cryptography toolkit for banks
The Hong Kong University of Science and Technology and the Hong Kong Monetary Authority released a framework on 2 November to guide banks through the move to quantum-safe encryption.
Why it matters: Banks in Hong Kong now have a toolkit, co-produced by HKUST and the HKMA, to plan their transition to post-quantum cryptography.
HKUST and the Hong Kong Monetary Authority (HKMA) launched a Post-Quantum Cryptography (PQC) Toolkit on 2 November, with backing from industry participants, according to the university.
HKUST said the toolkit offers banks a structured framework covering governance and accountability, assessment of cryptographic exposure, identification of transition needs and monitoring of implementation.
The toolkit includes practical tools to help banks inventory their cryptographic assets and dependencies, set transition priorities, work with suppliers and draw up timelines, the release said.
The HKMA launched a Quantum Preparedness Index (QPI) in July 2026 to gauge banks' readiness for quantum-safe cryptography, and its initial score was 2.3 out of 10.
Editor’s view
Joseph Lopez, Collaboration Editor
Banks in Hong Kong, whose sector scored 2.3 out of 10 on the HKMA's initial Quantum Preparedness Index, now have a toolkit from HKUST and the HKMA to take stock of cryptographic assets and set transition timelines.
