The Hong Kong Monetary Authority (HKMA) released a white paper on July 28 on its readiness for the quantum crisis and rolled out the industry’s first Quantum Crisis Preparedness Index (QPI). As of now, the overall QPI score for the financial industry is 2.3 out of 10, and about half of the surveyed institutions have not yet established a formal post-quantum contingency plan.
HKMA Quantum Readiness White Paper Core Data: QPI 2.3/10
According to the white paper released by the HKMA on July 28, 2026, the key findings are as follows: The overall QPI score for the financial industry is 2.3 out of 10, indicating overall readiness is low; about half of the surveyed institutions have not yet developed a formal post-quantum crisis response plan; and the HKMA aims to achieve full readiness across the financial industry by 2030.
The white paper also points out that quantum computers capable of running the Shor algorithm at scale may ultimately break widely used RSA and elliptic-curve cryptography, enabling attackers to decrypt protected data or forge digital signatures. Since replacing embedded cryptographic systems may take years, the HKMA urges each bank to start inventorying systems, conducting risk assessments, and developing migration plans in advance.
Tokenization Progress in Hong Kong: Three Tranches of Green Bonds Worth HK$16.8 Billion, Digital Assets Up 180% YoY
According to reports and remarks by Hong Kong Financial Secretary Paul Chan Mo-po on February 11, 2026, the main data on Hong Kong’s tokenized finance are as follows:
Tokenized Green Bonds: Three batches issued since 2023, totaling approximately HK$16.8 billion (about $2.1 billion)
Digitized Assets Held in Bank Custody: As of the end of 2025, exceeded HK$14.0 billion (about $1.79B), up about 180% year over year
Tokenized Deposits: Reached HK$29.0 billion (about $37B)
The HKMA white paper states that the core functions of distributed ledger applications and payment networks rely on cryptography. If protective measures are compromised, they may face severe disruption.
FAQ
What is the current score of HKMA’s QPI quantum preparedness index, and what is the target?
According to the HKMA white paper released on July 28, 2026, the current overall QPI score for the financial industry is 2.3 out of 10. About half of the surveyed institutions have not yet developed a formal post-quantum crisis response plan. The HKMA’s goal is to have the financial industry fully prepared by 2030, with the QPI index reaching 10 points.
How does quantum computing threaten the security of existing financial systems?
According to the HKMA white paper, quantum computers capable of running the Shor algorithm at scale may ultimately break RSA and elliptic-curve cryptography, allowing attackers to decrypt protected data or forge digital signatures used for authorization transactions and verifying identities.
What are the scale of digital assets and tokenized deposits in Hong Kong as of the end of 2025?
According to remarks by Hong Kong Financial Secretary Paul Chan Mo-po on February 11, 2026, as of the end of 2025, the digital assets held in custody by banks in Hong Kong exceeded HK$14.0 billion (about $1.79B), up about 180% year over year; tokenized deposits have reached HK$29.0 billion (about $37B).
