Fri Sep 20 08:00:00 UTC 2024: ## HSBC Pioneers Quantum-Secure Gold Trading with Tokenized Assets
**Hong Kong, September 19, 2024** – HSBC, a global banking giant, has successfully completed a pilot project utilizing quantum-secure technology for trading tokenized physical gold. This marks a significant leap in securing digital assets against potential future attacks from advanced quantum computers.
The bank partnered with Quantinuum, a quantum technology provider, to implement their “Quantum Origin” technology, generating truly random numbers to enhance security. HSBC also tested the interoperability of its gold tokens using Quantinuum’s post-quantum cryptography (PQC) algorithms, enabling secure transfer of digital assets across different distributed ledgers.
The trial included converting HSBC gold tokens into ERC-20 fungible tokens, increasing their accessibility and compatibility with other DLTs and digital wallets. The PQC algorithms employed in the trial are currently being standardized by the US National Institute of Standards and Technology (NIST) and are specifically designed to withstand future quantum computing attacks.
This initiative builds on HSBC’s earlier launch of the “Gold Token” in Hong Kong, offering retail investors fractional ownership of physical gold. Philip Intallura, Global Head of Quantum Technologies at HSBC, highlighted the pilot’s success in demonstrating the practical application of advanced technologies in real-world scenarios. While the specific timeline for deploying these quantum-safe methods for real Gold Token assets remains undisclosed, the pilot signifies HSBC’s commitment to future-proofing its financial systems.
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