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In an official blog post, Coinbase shares technical considerations regarding its transition strategy for Bitcoin to address quantum computing threats. The article points out that quantum computers pose a potential threat to Bitcoin's existing cryptographic system, and migration efforts require years of advance planning. As one of the world's largest cryptocurrency custody institutions, Coinbase holds approximately 5% of the global BTC supply and has already joined the Bitcoin Security Alliance while investing in open-source research support. Key recommendations include adopting flexible output architectures such as P2MR (BIP-360) or P2TRv2 to support the introduction and replacement of post-quantum signature schemes; implementing a 1-of-2 hybrid transition construct that allows funds to retain both classical and post-quantum signature paths simultaneously; prioritizing stateless signature schemes to mitigate state management risks; and requiring candidate schemes to be compatible with Multi-Party Computation (MPC) to meet institutional-grade custody requirements. Coinbase emphasizes that the handling of legacy funds can be discussed in parallel with technical upgrade work and should not hinder the advancement of post-quantum signature support.
According to the official press release, Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, nine leading financial institutions and Bitcoin companies, jointly announced the establishment of the Bitcoin Security Consortium on July 23, 2026. The members independently committed to contributing a total of $15 million over the next three years to support long-term security research for the Bitcoin network, with a focus on development work in the field of post-quantum cryptography. The consortium's daily affairs are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt; it will not intervene in protocol development or specific change decisions and will regularly release Bitcoin security status reports to investors and the public.