HKMA Unveils Bold 2030 Roadmap for Banking Quantum Score
Hong Kong Banks Score 2.3/10 on Quantum Preparedness Index
The Hong Kong Monetary Authority (HKMA) published a whitepaper on Monday, July 27, 2026, introducing the banking sector's first Quantum Preparedness Index (QPI), which scored the sector just 2.3 out of 10 on readiness for post-quantum cryptography and set a target of full readiness by 2030. Produced with KPMG and Quinlan & Associates, the index measured Authorized Institutions across four dimensions and revealed the city's banking industry, positioned as Asia's digital-asset hub, is only beginning to grapple with cryptographic risks that could affect blockchain settlement and tokenized assets.
Whitepaper Finds Gaps in Banks' Post-Quantum Readiness
Every dimension scored low, with Awareness at 2.4, Planning at 2.5, Practical Preparedness at 2.3, and Pilots lowest at 1.8. The findings indicate most banks are still building the foundations for a transition to the quantum era rather than executing concrete migration plans. Roughly half of surveyed institutions reported having no formal roadmap for adopting post-quantum cryptography, while the vast majority had neither conducted nor scheduled proof-of-concept testing of quantum-safe algorithms.
HKMA Charts Path to Full Quantum Preparedness by 2030
The whitepaper and index form part of the HKMA's Fintech Promotion Blueprint, intended to help banks understand the implications of quantum computing for financial services. The authority plans a PQC toolkit developed with the Hong Kong University of Science and Technology, alongside workshops on capability building and quantum-safe transition planning.
Low readiness scores could expose Hong Kong's rapidly expanding tokenized deposit and blockchain settlement systems to future cryptographic vulnerabilities if banks delay migration.
With a 2030 full-readiness target, banks that fail to accelerate post-quantum adoption risk falling behind regulatory expectations and global peers already piloting quantum-safe infrastructure. HKMA officials framed the QPI as both a report card and a roadmap, designed to spotlight sector leaders and laggards while benchmarking progress annually toward full quantum resilience.