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KEY FACTS

NIST released first postquantum cryptographic standards, mandating financial sector adoption

( National Institute of Standards and Technology, August 2024)

US $ 1bn expected revenue from quantum cryptography earning( McKinsey Quantum Technology Report 2024)

US $ 219.2bn – global quantum cryptography market size value in 2024( IDC Quantum Computing Forecast 2024)

QUANTUM- RESISTANT CRYPTOGRAPHY BECOMES ESSENTIAL

As quantum computing advances, financial institutions may migrate to quantumresistant cryptographic systems. Early movers could invest in post-quantum cryptography in addition to further cybersecurity measures, recognising challenges around current encryption. Regulatory bodies may start to look at quantum-safe security standards as a critical part of the suggested infrastructure. fintechmagazine. com 43