Consortium launches cross-regional pilot on post-quantum security with participation from banks and regulatory stakeholders

Convened by the Responsible Fintech Institute with Safeheron as technology partner, to evaluate and eventually open-source quantum-resilient infrastructure for wallet generation and digital asset transfers in a regulated, cross-jurisdiction setting.

SINGAPORE, Aug. 24, 2026 /PRNewswire/ -- The Responsible Fintech Institute (RFI) and Safeheron have launched a pilot initiative to evaluate post-quantum cryptography for digital asset transactions, with participation from selected financial institutions and regulatory stakeholders across multiple jurisdictions. The initiative is designed to move quantum-safe financial infrastructure from concept into practical testing with participating institutions.

The pilot will focus on a post-quantum cryptography (PQC) research program built around a multi-party computation (MPC) protocol that supports ML-DSA-65, the NIST FIPS 204 digital signature standard, with participant testing covering wallet generation and on-chain transfer activity on the quantum-resistant NEAR testnet. The initiative brings together banks and regulators from multiple jurisdictions to examine cross-border interoperability, operational resilience and governance considerations in parallel with technical evaluation.

"No single bank, vendor, or regulator solves this alone," said Chia Hock Lai, Chairman of the Responsible Fintech Institute. "By bringing policymakers and financial institutions across jurisdictions together to test the same post-quantum architecture, and transparently sharing that research with every participant, we are building a compliance and security reference the whole industry can stand on — and a standard we all helped write."

"AI is accelerating the pace of change and likely bringing the quantum threat closer to reality — quantum-ready infrastructure has never been more critical, and the time to act is now," said Jag Foo, Chief Security & Policy Officer at Safeheron. "By integrating NIST's post-quantum signature standard with advanced MPC technology, we are building the architecture required to secure the next generation of financial networks. Safeheron has long advocated for open-source cryptography, because accountability and good governance demand it. We intend to open-source our PQC code. Cryptography securing institutional assets should stand up to independent scrutiny, not ask for trust."

"As the financial sector prepares for future cybersecurity challenges, initiatives that encourage collaboration and knowledge-sharing among industry participants are increasingly important," said António Henriques, CEO of Bison Bank. "We are pleased to support discussions around post-quantum security and to contribute to broader industry understanding of how financial institutions can prepare for the evolving risk landscape."

"We welcome the industry's initiative to identify a reliable protocol that safeguards digital asset transactions," said David Peters, Managing Director of the Gelephu Financial Services Office. "Ensuring the continuing integrity of these transactions and protecting client funds is critical to the smooth functioning of the investment market."

"Preparing for the potential impact of quantum computing on the financial system requires early engagement, collaboration and a better understanding of how post-quantum technologies can operate in practice," said Alan Decelis, Head of Supervisory ICT Risk and Cybersecurity at the Malta Financial Services Authority. "The MFSA welcomes initiatives that bring together regulators, financial institutions and technology experts to explore these challenges in a controlled environment. Participating in this initiative provides a valuable opportunity to contribute a supervisory perspective while developing our understanding of the operational, governance and resilience considerations associated with the transition towards quantum-safe financial services."

Why quantum-safe infrastructure matters

Quantum computing is widely expected to create long-term risks for the public-key cryptography that underpins large parts of today's financial system, and financial-sector transition planning has become increasingly important. As noted in a 2025 paper on quantum-readiness for the financial system published by the Bank for International Settlements (BIS), the transition requires coordinated planning, cryptographic agility and phased migration, rather than a simple algorithm swap.

At the same time, regulators are sharpening their focus on AI- and quantum-driven cyber risks. In July 2026, the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced the AI-Driven Cyber and Technology Risk Taskforce (ACT), an industry-wide initiative to strengthen collective cyber and technology resilience against emerging threats from frontier AI models. Regionally, the Hong Kong Monetary Authority (HKMA) has embedded quantum readiness into its Fintech 2030 strategy, launching a Quantum Preparedness Index and whitepaper to benchmark banks' transition to post-quantum cryptography and signalling an ambition to achieve full sectoral quantum-ready status by 2030.

Within this pilot, participating institutions will test a shared application environment that enables quantum-resistant MPC signing under consistent conditions, while regulators take part in an observer role during the first phase and contribute to a governance workstream in the next stage. The proof of concept also envisages publication of a whitepaper covering the research, protocol design and testing findings so that the wider market can assess and build on the results, reinforcing the sector's collective learning and preparedness. Furthermore, the underlying protocol technology will eventually be open-sourced to maximize transparency, encourage independent security auditing, and promote accountable, industry-wide standards.

About the pilot

The proof of concept is positioned as a collaborative effort for regulated financial institutions, with Safeheron leading protocol and engineering work and the Responsible Fintech Institute leading governance, convening and cross-jurisdiction stakeholder coordination. Current participants include regulators such as Abu Dhabi Global Market (ADGM), Gelephu Financial Services Office (GFSO) and Malta Financial Services Authority (MFSA) alongside participating banks including Bison Bank and DK Bank, with additional institutions in discussion to join.

Participating financial institutions will contribute to the evaluation of operational, governance and interoperability considerations associated with post-quantum cryptographic approaches. Levels of participation may vary depending on the role and scope agreed by each institution.

The pilot has been structured to stay close to real institutional operating models, including a tentative non-custodial 2-of-2 MPC participation design intended to minimize operational burden while preserving institutional control over key ownership. Its broader objective is to help the market better understand how secure digital asset transaction flows could evolve across regions as financial institutions prepare for a quantum-safe future, in alignment with evolving supervisory expectations on cyber resilience and quantum readiness.

About the Responsible Fintech Institute

The Responsible Fintech Institute is an independent nonprofit organization focused on bridging traditional and decentralized finance through standards, governance and responsible adoption. In this pilot, it convenes regulators, banks and market infrastructure stakeholders across jurisdictions and supports governance and publication of the initiative's research findings.

About Safeheron

Safeheron is a digital asset custody and operating system infrastructure provider focused on advanced cryptographic infrastructure, including multi-party computation and trusted execution environment capabilities. In this pilot, it is responsible for the PQC-enabled MPC protocol, ML-DSA-65 signing implementation and testing application used by approved participants.

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Consortium launches cross-regional pilot on post-quantum security with participation from banks and regulatory stakeholders

New three-year investment will reach nearly 200,000 crisis-affected children and adolescents, helping them return to safe, inclusive learning while supporting the recovery of Sudan's education system. The announcement comes as Education Cannot Wait launches Hope Starts Here, a global campaign to mobilise US$600 million to reach 10 million children living through the world's most severe crises.

GENEVA, Switzerland, Aug. 24, 2026 /PRNewswire/ -- Education Cannot Wait (ECW), the global fund for education in crises, has announced a new US$22 million multi-year investment to help restore safe, quality and inclusive education for nearly 200,000 crisis-affected children and adolescents across West Darfur, South Kordofan and Gedaref, as Sudan continues to face the world's largest humanitarian and displacement crisis.

The announcement follows a high-level mission to Sudan. ECW Director Maysa Jalbout met with children, teachers, communities and education partners affected by more than three years of armed conflict and displacement.

Since conflict erupted in April 2023, some 14 million people have been forced to flee their homes, while 33.7 million people now require humanitarian assistance. At least 8 million children – nearly half of Sudan's 17 million school-age children – remain out of school. Across the country, large numbers of schools remain non-operational, while millions of children have endured prolonged disruptions to their education, with some missing nearly 500 days of learning.

"Education in Sudan has been interrupted by conflict, displacement and unimaginable hardship. Yet it remains one of the most powerful tools we have to protect millions of children, restore hope and support recovery. This investment is about much more than reopening classrooms. It is about supporting children to regain a sense of safety and normalcy while strengthening education systems that can continue serving communities through crisis and into recovery. Sudan's children cannot wait," said Maysa Jalbout, Director of Education Cannot Wait.

The three-year programme will reach those left furthest behind in the country – including internally displaced children, refugees and vulnerable host communities, with at least 60% girls and 10% children with disabilities. It will establish safe formal and non-formal learning environments, provide mental health and psychosocial support, strengthen teacher capacity, improve access to quality learning materials, and address barriers facing girls and children with disabilities. A US$5 million crisis modifier will enable rapid responses to emerging emergencies and climate-related shocks.

Implementation will be led by Save the Children, in partnership with Plan International, Lakarmissionen International (LM International), and local partners Alsalam Organisation for Relief and Development (AORD) and Sadagaat.

"For millions of children in Sudan, conflict and displacement have disrupted not only their education, but also their sense of safety, routine and hope for the future. Access to safe, quality education is a fundamental right and one of the most effective ways to protect children and support their recovery during times of crises. Through this ECW multi-year investment and partnership, children in Sudan will be able to access learning opportunities that provide critical protection, psychosocial support and a pathway to recovery, resilience and a brighter future," said Francesco Lanino, Deputy Country Director for Save the Children.

Localisation is central to the programme, with nearly 48% of the budget going to national and local partners. Local actors will work alongside organisations of persons with disabilities, women-led organisations and community structures to ensure the response is rooted in the priorities and capacities of the communities it serves.

"Communities in Sudan have shown extraordinary resilience despite the immense challenges they continue to face. As a Sudanese organisation, we know that lasting impact comes from solutions that are rooted in local knowledge, trust and partnerships with the communities we serve. Through this programme, we will work alongside families, teachers and local partners to help children return to safe, inclusive learning environments where they can recover, regain hope and build the skills they need for the future," said Rudwan Elfaki, General Director of AORD.

ECW's US$22 million investment provides seed funding towards a total programme requirement of US$39 million, with partners continuing to mobilise additional resources to expand support as needs evolve.

From Sudan to a global call for action

The Sudan investment comes days after the launch of Hope Starts Here, ECW's new global campaign to mobilise US$600 million to reach 10 million crisis-affected children with education over the next four years.

The campaign launches at a critical moment. ECW's latest global estimates show that 258 million school-aged children and adolescents across 87 countries now have their education disrupted by crises.

Hope Starts Here builds on a decade of action by ECW and its partners, reaching more than 14 million crisis-affected children and adolescents with education, protection and holistic support.

The campaign will mobilise governments, foundations, philanthropies and private sector partners ahead of ECW's High-Level Replenishment Conference in Geneva on 5 November 2026, hosted by Switzerland.

Note to Editors 

B-roll and high-resolution photos are available here.

About Education Cannot Wait:

Education Cannot Wait (ECW) is the global fund for education in crises. The Fund provides rapid, flexible funding to locally-led education responses that protect learning for refugee, internally displaced and other children, while strengthening systems to sustain learning and resilience in fragile and conflict-affected contexts. ECW works with governments, public and private funders, UN agencies, civil society organisations, and other humanitarian and development aid actors so that no child is left behind.

As global crises intensify and the education financing gap widens, ECW calls on public and private sector partners to scale up investments so millions more crisis-affected girls and boys can learn and rebuild their futures.

Additional information available at: www.educationcannotwait.org 

For press inquiries:
Rafik Elouerchefani relouerchefani@un-ecw.org
Estefanía Jiménez: esjimenez@un-ecw.org 

For other inquiries: info@un-ecw.org

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New US$22 Million Education Lifeline for Crisis-Affected Children in Sudan