HSBC has successfully trialed quantum-secure technology for buying and selling tokenized physical gold [1] [2] [4] [5] [6] [7] [8], partnering with Quantinuum to protect assets against potential quantum computing attacks [2].
Description
The bank tested the interoperability of gold tokens using post-quantum cryptography (PQC) and demonstrated the ability to move digital assets safely across distributed ledgers via secure networks. Building on previous innovations, including the launch of tokenized gold for institutional investors last year and the HSBC Gold Token for retail investors this year, HSBC plans to convert the gold tokens into ERC-20 fungible tokens for enhanced distribution and interoperability with other distributed ledger technologies (DLTs) and digital wallets. Quantinuum provided holistic protection of digital assets [8], such as HSBC gold tokens [5] [8], from quantum computing attacks using PQC algorithms and Quantum Origin quantum randomness technology [8], preventing “store now [5] [8], decrypt-later” cyber incidents [1] [5] [8]. The suite of algorithms used in the trial is in the process of being standardized by NIST and is designed to be secure against future quantum computing attacks [2]. This successful trial marks a significant advancement in protecting digital assets against future quantum computing attacks and showcases comprehensive protection of digital assets from quantum computing attacks. The integration of quantum-safe technology with tokenised assets opens up new possibilities for cross-platform interoperability [6], leading to more efficient and secure trading of digital assets across different blockchain networks and traditional financial systems [6]. By combining tokenised assets with quantum-safe technology [6], HSBC is creating a new standard for security and innovation in digital finance [6], building trust in the digital financial ecosystem of the future [6]. HSBC aims to enhance distribution and interoperability with other digital assets and wallets [4], building cutting-edge cybersecurity protection for the future [4] [5] [7]. Philip Intallura [3] [7], Global Head of Quantum Technologies at HSBC [7], highlighted the bank’s commitment to innovation and cybersecurity protection for the future [7], while Ilyas Khan [7], Quantinuum’s founder and Chief Product Officer [7], emphasized the collaboration between the two companies in developing quantum-hardened defenses for financial services [7].
Conclusion
This successful trial not only marks a significant advancement in protecting digital assets against future quantum computing attacks but also showcases comprehensive protection of digital assets from quantum computing attacks. The integration of quantum-safe technology with tokenised assets opens up new possibilities for cross-platform interoperability [6], leading to more efficient and secure trading of digital assets across different blockchain networks and traditional financial systems [6]. By combining tokenised assets with quantum-safe technology [6], HSBC is creating a new standard for security and innovation in digital finance [6], building trust in the digital financial ecosystem of the future [6]. The collaboration between HSBC and Quantinuum in developing quantum-hardened defenses for financial services highlights the importance of cybersecurity protection in the digital age and sets a new standard for the industry.
References
[1] https://thequantuminsider.com/2024/09/19/hsbc-pilots-quantum-safe-technology-for-tokenized-gold/
[2] https://www.infosecurity-magazine.com/news/hsbc-quantum-safe-technology/
[3] https://quantumcomputingreport.com/hsbc-pilots-quantum-safe-technology-to-secure-tokenised-gold-transactions/
[4] https://www.theasset.com/article/52450/hsbc-pilots-quantum-protection-for-tokenized-gold
[5] https://finadium.com/hsbc-pilots-quantum-safe-technology-for-tokenized-physical-gold/
[6] https://fintechmagazine.com/articles/hsbc-pioneers-quantum-safe-tech-for-tokenised-gold
[7] https://www.leaprate.com/financial-services/fintech/hsbcs-trial-of-quantum-secure-technology-for-tokenised-physical-gold-successful/
[8] https://www.hsbc.com/news-and-views/news/media-releases/2024/hsbc-pilots-quantum-safe-technology-for-tokenised-gold
