Zumo has signed an MoU with Quantum Chain to help UK financial institutions protect digital asset services against future quantum computing attacks.
Under the memorandum, UK-based crypto-as-a-service platform Zumo, which is registered with the Financial Conduct Authority as a cryptoasset business, will combine its digital asset infrastructure with the quantum-resilient blockchain infrastructure of UAE-based Quantum Chain. The aim is to support quantum-safe digital currency and asset management for central banks, banks, and regulated financial institutions. Potential applications include private networks, tokenised deposits, payments, and institutional digital assets, as well as a quantum-resistant GBP stablecoin, which the companies will explore subject to regulatory requirements.
The timeline for quantum threats
Cryptographically relevant quantum computers (CRQCs) are expected to be able to break the public-key cryptography that underpins blockchain security, asset ownership, and institutional custody. The UK National Cyber Security Centre advises financial institutions to complete their migration to post-quantum cryptography by 2035. Most estimates place the arrival of such computers, often called ‘Q-Day’, in the 2030s, although research from Google indicates it could come as early as 2029.
A further concern is ‘Harvest Now, Decrypt Later’ attacks, in which encrypted financial data is intercepted and stored today with the aim of decrypting it once a CRQC exists. According to a survey by Thales, this is now the most pressing quantum concern for security professionals, cited by 61% of respondents. As a result, cryptographic agility, the ability to replace vulnerable encryption quickly without disrupting a network, has become a priority for the digital assets sector.
Building in cryptographic agility
Quantum Chain’s network uses encryption methods aligned with the US National Institute of Standards and Technology, which can be swapped out quickly if any element is compromised, and supports permissioned protocols designed to protect institutional privacy. Max Denega, Founder and CEO of Quantum Chain, stated that, with quantum computing and AI advancing quickly, encryption may need to be updated repeatedly, making cryptographic agility essential. He also argued that post-quantum migration projects as currently offered often leave underlying systems unchanged, whereas Quantum Chain moves institutions onto post-quantum blockchain infrastructure directly.
Nick Jones, Founder and CEO of Zumo, stated that encryption that would take ordinary computers thousands of years to break could be broken by a powerful quantum computer in hours. According to Jones, as banks and wealth managers adopt blockchain-based infrastructure for payments, deposits, and digital assets, the partnership will focus on keeping Zumo’s services secure against these emerging threats, embedding stronger security into systems built for long-term use.
