Indonesian Banks Test Quantum-Resistant Cryptography for Secure Transactions

Banks and regulators in Indonesia are testing quantum-resistant cryptography to secure their transactions. This effort aims to protect financial institutions from potential cyber threats.

PT Bumi Santosa Cemerlang, a company behind the Pluang financial application, is involved in this initiative. The company facilitates various asset classes, including US Stocks, ETFs, and Options, Indonesian Stocks, Crypto Assets, and Digital Financial Asset Derivatives.

The Financial Services Authority of Indonesia (OJK) licenses and supervises these transactions. For instance, Crypto Assets and Digital Financial Asset Derivatives are recorded by Central Finansial X (CFX) and guaranteed by Kliring Komoditi Indonesia (KKI).