The joint BdF-MAS initiative trialled its first use of quantum-resistant cryptographic algorithms for the signing and encryption of emails. The goal was to strengthen the current level of security for electronic communications in the future, while retaining compatibility with existing Internet standards, technologies and communication channels. The project followed recommendations from the French National Cybersecurity Agency (ANSSI) and the National Institute of Standards and Technology (NIST), combining current algorithms with post-quantum algorithms to ensure security and compatibility with existing systems. Denis Beau, first deputy governor, BdF, states: “Banque de France has been anticipating and multiplying experiments in post-quantum cryptography with its partners since 2022. The results of this first cooperation with the Monetary Authority of Singapore in the field of post-quantum cryptography reassure us of our ability to make our inter-institutional communications resilient.” The partners say there is potential to integrate this technology into payment networks, thereby helping financial institutions to future-proof their security measures against the looming threat of quantum computing. Jacqueline Loh, deputy managing director, MAS, says: “The looming threat of quantum-powered decryption is transforming cybersecurity strategies in financial services globally. The focus is now shifting towards cryptographic agility and ensuring systems can adapt by integrating with quantum-resistant algorithms. Financial institutions that prepare early for the quantum era will not only mitigate future risks but also position themselves to retain public trust in digital financial services."