HKMA and HKUST have launched a Post-Quantum Cryptography Toolkit to help banks assess exposure, set governance and plan transitions.

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.

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.

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