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Galaxy Digital Launches Bitcoin Quantum Security Initiative, Offering Up to $5 Million in Developer Grants
digital asset firm Galaxy Digital has launched a Bitcoin Quantum Preparedness Initiative, which will offer up to $5 million in developer grants, conduct research through Galaxy Research, and establish a Quantum Advisory Council composed of academic experts.Galaxy Digital stated that the initiative will fund work related to post-quantum cryptography solutions and expects to begin accepting grant applications immediately. The inaugural members of the Quantum Advisory Council include University of Calgary Professor Barry Sanders, MIT Sea Grant Knauss Fellow Damien Bérubé, and Boston University Computer Science Professor Eran Tromer.The initiative is reportedly aimed at what researchers call “Q-Day,” when a quantum computer could use Shor's algorithm to break the elliptic curve cryptography protecting Bitcoin, deriving private keys from exposed public keys, forging signatures, and accessing wallet assets. Old addresses and reused addresses face higher risks. A May report by quantum security firm Project Eleven suggested that a quantum computer capable of such cryptographic tasks is more likely to emerge by 2033, possibly as early as 2030, and estimated that approximately 6.9 million bitcoins are in quantum-exposed addresses. In June, Coinbase's Quantum Advisory Council urged developers to begin migration efforts, estimating the vulnerable supply at around 7 million BTC. (Decrypt)
Korea Financial Research Institute: Discussions on the Korean won stablecoin should prioritize use cases over issuing entities
According to Bloomingbit, Ji Man-soo, Senior Research Fellow at the Korea Financial Research Institute, stated that before deciding on the issuing entity for the Korean won stablecoin, policymakers should prioritize reviewing concrete use cases and feasibility. Citing Hong Kong as a reference case, he noted that the Hong Kong Monetary Authority (HKMA) has granted stablecoin issuance licenses to HSBC Hong Kong and AnchorPoint Financial—a joint venture established by Standard Chartered Hong Kong, Animoca Brands, and HKT—covering use cases such as cross-border payments, domestic payments, tokenized asset trading, and supply chain finance, all aligned with broader digital finance strategies including central bank digital currency (CBDC) and tokenized deposits. Ji Man-soo suggested that discussions around the Korean won stablecoin should begin by asking, “Which problems in Korea’s domestic financial and payment systems can it solve?” Concurrently, specific applications for payments, asset tokenization, and trade finance must be designed to ensure the regulatory framework is effectively implemented.