Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), says the city’s banking sector is still in the early stages of preparing for cybersecurity risks associated with quantum computing. Speaking as it unveiled a new measurement tool, the HKMA launched its first Quantum Preparedness Index (QPI) to track how ready banks are for a “quantum era” and the transition required for related security threats. According to reporting, the index assigns the sector an overall score of 2.3 out of 10, suggesting that most banks are still building foundational capabilities rather than having fully implemented quantum-resistant security measures.
The HKMA also stated that it is working toward ensuring the banking industry is fully prepared for quantum-related security risks by 2030. The move is taking place as Hong Kong expands tokenization initiatives in finance, which can increase the need for robust cryptographic security and long-term resilience. The QPI is presented as a benchmark to monitor progress across participating institutions over time.
