HSBC has successfully tested quantum-secure technology for trading tokenised physical gold, enhancing protection against future quantum computing threats. This milestone builds on HSBC’s previous innovations, including its launch of tokenised gold for institutional and retail investors through the HSBC Orion digital assets platform. The technology also enabled the conversion of HSBC gold tokens into ERC-20 fungible tokens, improving interoperability with digital wallets and distributed ledger platforms.
The pilot integrated post-quantum cryptography (PQC) and Quantinuum’s Quantum Origin technology to protect against potential “store now, decrypt later” cyber risks. A block diagram of how Quantinuum’s Quantum Origin is used in this process is shown below.
HSBC Global Head of Quantum Technologies, Philip Intallura, highlighted the bank’s continued innovation in safeguarding digital assets, emphasizing that this pilot demonstrated the practical application of quantum-safe technologies in real-world business environments. The initiative reinforces HSBC’s leadership in pioneering advanced cybersecurity measures for tokenized assets, preparing for future quantum computing challenges.
For more information, you can access a press release provided by HSBC here. A white paper titled Asset tokenisation in the Quantum Age that describes this process in more technical detail can be downloaded from a web page here.
September 19, 2024