The HK Monetary Authority (HKMA) is developing an assessment framework to determine banks’ preparedness against quantum computing attacks amid increasing usage of tokenised deposits, digital assets, and blockchain settlement within Hong Kong. HKMA rolled out a white paper and also a Quantum Preparedness Index (QPI), which is the sector’s first index on the same topic. The QPI scored the industry a total preparedness rating of 2.3/10, while the white paper indicated that roughly 50 percent of those surveyed lacked any post-quantum plans.\\
HKMA Targets Full Quantum Readiness Across Banking Sector by 2030
According to the HKMA, its goal is to reach full sector preparedness in the form of reaching a score of 10 on the QPI scale by 2030. This development occurs alongside the ongoing efforts in Hong Kong to move traditional finance activities onto distributed ledgers. According to official government data, in Hong Kong, tokenised green bonds worth around HK$16.8 billion ($2.1 billion) have been offered in three rounds since 2023, whereas the HKMA is working on tokenised deposits and digital assets’ settlement via Project Ensemble.
The HKMA white paper suggested that applications and networks of distributed ledgers are dependent on cryptographic protocols for their fundamental purposes, and would be severely affected in case of any security breach. Also, according to the HKMA white paper, one of the surveyed organisations had developed a concept proof with post-quantum cryptography for connectivity in distributed ledgers, while mentioning HSBC’s quantum-safe technology implementation in 2024 for transferring tokenised gold across distributed ledgers.
Earlier in 2025, the HKMA had unveiled its Fintech 2030 strategy, a comprehensive five-year plan to drive innovation, strengthen resilience, and advance real-world asset (RWA) tokenisation across the financial system. The strategy is structured around four core pillars: data, artificial intelligence, resilience and tokenisation (DART), which together aim to modernise the city’s financial infrastructure and enhance cross-border connectivity.
In April. The IMF also said in a report that tokenisation can make processes such as settlement and ownership transfer easier, lowering costs and making things clearer. However, it also warned that the rapid adoption of tokenised systems could pose challenges related to financial stability, governance, and regulatory oversight across global markets. The findings highlight the growing need for policymakers to adapt to advancing financial technologies.
