HKMA and HKUST launch PQC Toolkit for bank quantum preparedness
The Hong Kong Monetary Authority and The Hong Kong University of Science and Technology have launched a Post-Quantum Cryptography Toolkit aimed at helping banks plan their transition to quantum-safe cryptography, building on the HKMA’s earlier assessment that the sector’s readiness remains at an early stage.
Evidence and context
In a statement dated 2 November, the HKMA said the toolkit was developed with support from industry participants and is intended to give banks a structured framework for their post-quantum cryptography, or PQC, transition journeys. The toolkit is designed to help institutions establish governance and accountability, assess cryptographic exposure, identify transition needs and monitor implementation progress.
The HKMA said the toolkit also brings together planning considerations to support an orderly, risk-based transition. It includes practical tools to help banks take stock of cryptographic assets and dependencies, define transition priorities, strengthen engagement with suppliers and develop transition timelines.
The launch follows the HKMA’s Quantum Preparedness Index, which it introduced in July 2026 to assess readiness for quantum-safe cryptography. The HKMA said the initial score of 2.3 out of 10 indicated that the banking sector had begun addressing quantum-related developments, but that overall readiness for the move to PQC remained at an early stage.
The HKMA said the toolkit is intended to help banks translate that awareness into concrete action and support progress toward full quantum readiness, defined by the authority as a QPI score of 10 by 2030. It added that the toolkit will be updated over time to reflect technological developments, international standards and industry implementation experience.
HKMA Deputy Chief Executive Arthur Yuen said the Quantum Preparedness Index had established a clear starting point for the sector. “The next step is to help banks translate that understanding into clear responsibilities, informed priorities and practical plans,” he said. He added that the toolkit provides “a common foundation that banks can adapt to their own circumstances.”
HKUST Business School Dean Frederik Anseel said preparing for the quantum era is “a leadership challenge” and that banks can build the knowledge and organisational capability they need even while the timing of the threat remains uncertain. He said the collaboration translates academic research and practical experience into guidance that banks can use.
The HKMA said the toolkit is available in the Fintech Knowledge Hub section of its website. The announcement did not specify when banks should complete their transitions, beyond the HKMA’s stated 2030 readiness goal.