HKMA and HKUST launch PQC Toolkit to support banks' quantum preparedness

The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) and the Hong Kong University of Science and Technology (HKUST) today (November 2) launched the Post-Quantum Cryptography (PQC) Toolkit (Toolkit), with support from industry participants. The Toolkit sets out a structured and comprehensive framework to guide banks in planning and advancing their PQC transition journeys. The Toolkit supports banks in establishing clear governance and accountability, assessing cryptographic exposure, identifying transition needs, as well as monitoring implementation progress. The Toolkit also brings together key planning considerations to facilitate an orderly and risk-based transition. In particular, the Toolkit includes a suite of practical tools to help banks get started with practical assessment and planning, such as taking stock of their cryptographic assets and dependencies, defining transition priorities, strengthening engagements with suppliers and developing practical transition timelines accordingly. In response to the potential cybersecurity risks associated with future advances in quantum computing, the HKMA launched the Quantum P

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