France: Adopted declaration on establishing BdF-MAS collaboration on post-quantum cryptography for digital payment security

On 5 November 2024, the Bank of France (BdF) and the Monetary Authority of Singapore (MAS) announced the completion of a project in post-quantum cryptography (PQC), aimed at ensuring the security of digital payments against the potential threats posed by quantum computing. The bilateral initiative tested quantum-resistant cryptographic algorithms for securing email communications, a component of digital financial transactions. The project was conducted over conventional Internet technologies across continents. Both institutions have committed to further collaboration to extend these security measures to critical financial transactions, emphasising the importance of international cooperation in enhancing cybersecurity.