Hong Kong Banks Score Just 2.3 Out of 10 on Quantum Computing Readiness

2.3 out of 10. That’s how Hong Kong’s banking regulator just scored its own banking sector’s readiness for a threat that doesn’t fully exist yet: quantum computers powerful enough to break the cryptography underpinning modern finance.

What the Score Actually Measures

The Hong Kong Monetary Authority introduced a new Quantum Preparedness Index alongside a white paper assessing how ready local banks are for quantum-computing risk, scoring institutions across four categories: awareness, planning, pilot projects, and operational readiness. The sector-wide average of 2.3 reflects early-stage awareness more than active defense, and the white paper found roughly half of surveyed institutions have no formal post-quantum planning in place at all.

Key Numbers From the Report

• 2.3 / 10 — current sector-wide Quantum Preparedness Index score
• ~50% of surveyed institutions have no formal post-quantum planning
• 10 / 10 — the target score HKMA wants the sector to reach by 2030
• HK$14 billion+ in digital assets under bank custody at end of 2025, up ~180% year over year
• HK$29 billion in tokenized deposits already issued by Hong Kong banks

Why Regulators Are Moving Now, Not Later

The concern is specific: sufficiently powerful quantum computers running an algorithm known as Shor’s algorithm could eventually break the RSA and elliptic-curve cryptography that secures most digital banking, blockchain settlement, and tokenized asset systems in use today. No such machine currently exists at that scale, but the migration to quantum-resistant cryptography across an entire banking sector is expected to take years, which is why regulators are pushing preparation well ahead of the actual threat materializing.

The timing is also tied to Hong Kong’s rapid tokenization push: as more real deposits and assets move on-chain, the cost of a future cryptographic failure grows right alongside the tokenized asset base itself.

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