Cryptocurrency Exchanges Fall Short on Quantum Readiness
NFT Demon Holdings LLC has published The State of Exchange Quantum-Readiness 2026, a public-evidence survey assessing 26 major cryptocurrency exchanges against six criteria related to post-quantum migration readiness.
According to the survey, 22 of the 26 exchanges show no qualifying public evidence across the six criteria. These include a published migration plan, named algorithm targets, a dated timeline, a cryptographic inventory, deployed or piloted post-quantum cryptography, and executive commitment to act.
The survey evaluates each exchange using six criteria, with each criterion requiring concrete and attributable public evidence. The exchanges assessed include Binance, OKX, Bybit, Kraken, Gemini, Crypto.com, Coinbase, and KuCoin.
Coinbase and KuCoin tie for the highest observed score at 4/6. Coinbase's score includes evidence of program breadth, including its PQ-CoreKMS key-management build and a full company-wide cryptography inventory. KuCoin's score includes its operation of what the survey identifies as the industry's only live post-quantum cryptography (PQC) test gateway.
NFT Demon Holdings' founder Jeremy Ryan said that 22 out of 26 exchanges have no public plan, and that 3/6 and 4/6 are better than zero but still not sufficient. He also stated that the technology to reach 6/6 already exists, in practice, not just in concept.