Security
HKUST and HKMA release post-quantum cryptography toolkit for Hong Kong banks
The Hong Kong University of Science and Technology (HKUST) and the Hong Kong Monetary Authority (HKMA) launched a Post-Quantum Cryptography (PQC) Toolkit on 2 November, with support from industry participants. It includes tools for taking stock of cryptographic assets and dependencies, defining transition priorities, engaging suppliers and building transition timelines. The HKMA launched a Quantum Preparedness Index (QPI) in July 2026, and the banking sector's initial score was 2.3 out of 10. The HKMA and HKUST say the toolkit aims to move the sector to a QPI score of 10 by 2030, and it will be updated as technology, international standards and industry experience evolve.
Why it mattersThe 2.3 out of 10 initial score indicates, per the HKMA, that the sector's readiness for the transition to post-quantum cryptography is at an early stage. The toolkit is meant to help banks turn awareness of quantum-related cybersecurity risks into concrete plans and responsibilities.}