Unlocking the Future: HSBC’s Quantum-Secure Technology for Tokenised Gold
HSBC, a global banking giant, has made a groundbreaking step in the world of digital assets by successfully trialling quantum-secure technology for buying and selling tokenised physical gold. This achievement marks a significant advance in safeguarding critical applications from potential quantum computing attacks.
- Utilizing post-quantum cryptography (PQC), HSBC has enhanced the security of moving digital assets across distributed ledgers, ensuring interoperability with various digital platforms and wallets.
- In collaboration with Quantinuum, HSBC has demonstrated a comprehensive defense mechanism against cyber threats like “store now, decrypt later,” providing robust protection for sensitive data in the face of future quantum vulnerabilities.
Last year, HSBC made waves as the first global bank to offer tokenised physical gold to institutional investors through distributed ledger technology (DLT). This year, they extended this innovation to retail investors in Hong Kong with the launch of HSBC Gold Token, allowing fractional ownership of physical gold through the HSBC Orion digital assets platform.
Through the integration of PQC algorithms, HSBC has ensured the safe movement of digital assets like gold tokens across secure networks, meeting the evolving needs and regulatory requirements of clients. The capability to convert gold tokens into ERC-20 fungible tokens enhances their distribution and interoperability.
In a quantum pilot with Quantinuum, renowned for its quantum computing expertise, HSBC has further fortified its digital assets against potential quantum threats. By leveraging PQC algorithms and Quantum Origin quantum randomness technology, HSBC has effectively shielded its gold tokens from quantum computing attacks and prevented SNDL cyber incidents.
Philip Intallura, Global Head of Quantum Technologies at HSBC, emphasized the significance of this pilot in demonstrating the application of cutting-edge cybersecurity protection in a real-world business environment.
Ilyas Khan, Founder and Chief Product Officer at Quantinuum, highlighted the partnership with HSBC in advancing quantum-hardened defenses for the financial services industry, ensuring the security of sensitive data now and in the future.