HSBC selects Singapore for its second Quantum Centre of Excellence

The new facility will initially focus on quantum-safe security—including post-quantum cryptography (PQC), quantum key distribution (QKD) and hybrid cryptographic frameworks—to safeguard critical infrastructure against future quantum attacks.

It will also serve as a platform for collaboration with regulators, researchers and fintech firms to trial interoperability, standards and practical use cases of quantum-safe solutions. HSBC is already participating in the Monetary Authority of Singapore’s industry-wide QKD sandbox for secure financial communications, alongside DBS, OCBC, UOB, SPTel and SpeQtral.

The focus on quantum-safe solutions stems from the fact that financial institutions rely on encryption to protect payments and data. Experts warn that powerful quantum computers could eventually crack today’s systems, a possibility that is pushing regulators and banks to move early on defences.

Beyond cybersecurity, HSBC’s Singapore CoE will explore how quantum computing could improve financial modelling, optimisation and machine learning.

“As quantum technologies evolve, it is important for the financial sector to prepare for the opportunities and challenges they may bring. The establishment of our Quantum Centre of Excellence in Singapore allows us to work closely with partners and regulators to explore how these innovations can strengthen long-term security, resilience, and in time, open new possibilities for financial services,” said Philip Intallura, Global Head of Quantum Technologies at HSBC.

This piece was first published in TheEdge on 24 September 2025.