On 29 September 2025, the Monetary Authority of Singapore (“MAS“), in collaboration with banks DBS, HSBC, OCBC, UOB, network provider SPTel, and startup SpeQtral, successfully completed a proof-of-concept (“PoC“) sandbox to evaluate the use of Quantum Key Distribution (“QKD“) for secure communications in the financial sector.
Purpose of Sandbox
The QKD sandbox enabled MAS and DBS, HSBC, OCBC, and UOB to collaboratively explore quantum security technologies, gaining insights into both the benefits and limitations of QKD for shaping quantum-safe strategies. MAS and the banks successfully deployed a QKD solution from SPTel and SpeQtral to validate secure transmission of sensitive data.
Key Findings Highlighted in Report
- QKD has the potential to strengthen the security of communication networks. Financial institutions (“FIs“) can use QKD to secure connections, including between data centres and FI premises.
- QKD providers and the telecommunications sector need to continue strengthening QKD security assurance. This includes establishing comprehensive standards for tamper-resistant, auditable trusted nodes with multi-layer security measures.
- Further work is needed for more interoperability between different QKD providers. QKD needs to be able to readily interoperate across different QKD providers and seamlessly integrate into FIs’ diverse information technology (IT) environments.
Click on the following link for more information:
- QKD PoC Sandbox for for the Financial Sector: Post-Implementation Report (available on the MAS website at mas.gov.sg)
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