Close Menu
FintechFetch
    FintechFetch
    • Home
    • Fintech
    • Financial Technology
    • Credit Cards
    • Finance
    • Stock Market
    • More
      • Business Startups
      • Blockchain
      • Bitcoin News
      • Cryptocurrency
    FintechFetch
    Home»Financial Technology»Singapore Maps Out Next Steps for Quantum-Safe Banking After Two-Phase Trial
    Financial Technology

    Singapore Maps Out Next Steps for Quantum-Safe Banking After Two-Phase Trial

    FintechFetchBy FintechFetchSeptember 29, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Free Newsletter

    Get the hottest Fintech Singapore News once a month in your Inbox

    The Monetary Authority of Singapore (MAS) and four major banks have tested quantum technology to protect critical financial data from future cyber threats and have now published the results.

    MAS worked with DBS, HSBC, OCBC, UOB, SPTel and SpeQtral to run a proof-of-concept sandbox in two phases.

    The first ran from September to November 2024 with DBS and OCBC, and the second from January to March 2025 with HSBC and UOB.

    The project trialled Quantum Key Distribution (QKD) on Singapore’s National Quantum-Safe Network Plus infrastructure to evaluate how it could secure sensitive data transfers between banks and the regulator.

    The sandbox deployed isolated QKD stacks to encrypt and decrypt settlement files between the banks and MAS, while measuring metrics such as Secure Key Rate and Quantum Bit Error Rate.

    It also simulated eavesdropping attacks and fibre disconnections.

    The system maintained secure operations during outages by drawing on a buffer of 6.75 million AES-256 keys per day, enough to sustain up to 2.5 months of encrypted operations.

    MAS and the banks tested advanced use cases including ML-DSA for digital signing, a hybrid VPN tunnel combining QKD with ML-KEM and Classic McEliece, and large-scale file transfers using one-time pad encryption.

    The technical report shows QKD’s potential to strengthen the security of inter-data centre links, critical payment systems and bank-to-regulator communications.

    It also identifies challenges including the need for stronger trusted node standards, greater interoperability between QKD providers and sustained senior management support to allocate budget, talent and resources to quantum-safe initiatives.

    Industry participants welcomed the findings, saying the project clarified security standards, implementation challenges and the integration of quantum-safe technology into existing financial infrastructure.

    MAS will continue collaborating with financial institutions and technology providers to develop frameworks, standards and implementation playbooks for quantum-safe communications.

    Vincent Loy
    Vincent Loy

    Vincent Loy, Assistant Managing Director (Technology) and Chief Technology Officer, MAS, said,

    “MAS is committed to collaborating with the financial industry to trial promising cybersecurity technologies that can help to safeguard critical financial systems and data against emerging quantum threats. The QKD sandbox marks a significant step in exploring the potential use of quantum-safe solutions within IT systems and networks within the financial sector.

    The insights gained have enhanced our understanding of QKD technology, helped explore possible ways to strengthen the cyber resilience of Singapore’s financial sector, and uplifted the capabilities of financial institutions to respond to potential cybersecurity threats posed by quantum computing.”

     

     

    Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleStarbucks store closures: Employees scramble to compile crowdsourced list and map of doomed locations
    Next Article 48% of UK Recruitment is Done With AI: Is the Technology Really Better at Eliminating Bias?: By Dmytro Spilka
    FintechFetch
    • Website

    Related Posts

    Financial Technology

    MAS Launches BLOOM to Advance Tokenised and Stablecoin Settlements

    October 17, 2025
    Financial Technology

    Unlocking G20 Cross-Border Goals in APAC with Project Nexus

    October 17, 2025
    Financial Technology

    DBS Overtakes PETRONAS to Lead ASEAN’s Brand Rankings with US$17.2B Valuation

    October 17, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    PrimeXBT expands MT5 offering with over 100 new trading instruments

    May 8, 2025

    3 Reasons Why Dogecoin (DOGE) Could Turn Bullish Again Soon

    March 11, 2025

    Disappointed Air Canada Consumers Could be the Cause for a Rise in Chargebacks Says Chargebacks911

    August 19, 2025

    Forecast: in 12 months the Lloyds share price and dividend could turn £10k into…

    August 8, 2025

    Promising News for Users Ahead of Hackathon Deadline

    October 12, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    Most Popular

    Visa Moves to Simplify Commercial Payments for Financial Institutions

    May 22, 2025

    Hidden risks for Canadians planning to downsize their retirement

    June 9, 2025

    Vietnam’s First Co-Badged Payment Card Launched by NAPAS and Mastercard

    May 19, 2025
    Our Picks

    Why did Apple subtract the “+” from Apple TV?

    October 18, 2025

    Now That Bitcoin USD is Dead What’s Next? BTC Price Slides Below $106K as U.S. Bank Turmoil Rekindles 2023 Flashback

    October 18, 2025

    ASTER, HYPE Continue to Drop as Bitcoin Price Stabilizes at $107K: Weekend Watch.

    October 18, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Fintechfetch.comAll Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.