Kathmandu – The Banque de France (BdF) and the Monetary Authority of Singapore (MAS) have announced the successful completion of a pioneering cross-continental experiment in post-quantum cryptography (PQC). This initiative aims to future-proof communication security against the potential threats posed by quantum computing, which could one day undermine existing encryption methods.

Ensuring Secure Communications in the Quantum Era

This collaborative experiment focused on using quantum-resistant cryptographic algorithms for encrypting and signing emails over conventional internet infrastructure. Leveraging Microsoft Outlook along with a PQC plugin, the teams tested the CRYSTALS-Dilithium and CRYSTALS-Kyber algorithms to verify their effectiveness in securing electronic communications.

Key Findings and Future Potential

The experiment’s findings underscored the need for a holistic approach to PQC, extending beyond algorithm development to encompass application protocols, key exchanges, and secure email standards. Notably, BdF and MAS suggested that PQC could be integrated into payment networks, safeguarding sensitive financial data and ensuring long-term transaction security.

Ongoing Collaboration for Financial Security

BdF and MAS plan to expand their PQC trials to encompass critical financial transactions, especially cross-border payments. This joint effort highlights a commitment to adapting to quantum-related cyber threats and underscores the importance of international partnerships in securing global financial systems.

Denis Beau, First Deputy Governor of BdF, emphasized that while quantum technology promises significant advancements, it also requires heightened vigilance to ensure cybersecurity. Jacqueline Loh, Deputy Managing Director at MAS, noted that early adoption of quantum-resistant algorithms positions financial institutions to mitigate emerging risks and maintain public trust.

This milestone in PQC reflects a proactive stance by BdF and MAS in preparing financial infrastructure for a quantum-resilient future.