NEAR Consortium Tests Post-Quantum Cryptography with Lattice-Based Standard

A consortium of banks and regulators is testing post-quantum cryptography on NEAR Protocol's quantum-resistant testnet. The pilot, led by the Responsible Fintech Institute and technology firm Safeheron, aims to stress-test digital asset workflows using a multi-party computation protocol built on the NIST FIPS 204 ML-DSA-65 lattice-based digital signature standard.

The consortium is testing a non-custodial 2-of-2 MPC design, where both parties must participate in every signing event and neither can act unilaterally. This approach ensures that no single party holds a complete private key.

Bison Bank, DK Bank, the Abu Dhabi Global Market, and the Malta Financial Services Authority are among the institutions participating in the pilot. The goal is to generate real data on wallet generation latency, signing performance, and cross-jurisdictional operational workflows.