Project Leap phase 2 – Exploring the migration of payment systems to quantum-safe solutions

Phase 2 builds on the findings of the first phase of the project and focuses on quantum-proofing payment systems by exploring the implementation of post-quantum cryptography in a European payment system. It involves sending liquidity transfers between Project Leap’s central bank partners using post-quantum digital signatures. Initial testing of post-quantum cryptography on a payment system has been encouraging.

The Leap experimentation has the potential to pave the way towards quantum-proofing critical infrastructures for the central banking community. The safe and efficient operation of payments systems is a core responsibility of many central banks, and is essential for maintaining financial stability. 

The migration of a payment system to quantum-safe solutions is a complex and high-stakes process that affects the entire financial ecosystem. The collaborative effort of Project Leap addresses these complex challenges, including system interdependencies, performance impact, and interoperability between solutions. Timely preparation and  coordinated migration will ensure that the financial system is prepared against the emerging quantum threat.