HSBC Collaborates with BT and Toshiba for Quantum-Secured Metro Network, Enhancing Cybersecurity Measures.

HSBC has become the inaugural bank to join forces with BT and Toshiba in implementing a quantum-secured metro network. The network aims to connect two sites in the UK by utilizing Quantum Key Distribution (QKD) technology, thereby fortifying HSBC's global operations against potential future cyber threats.

The trial conducted by HSBC will involve transmitting test data over fibre-optic cables, covering a distance of 62km between its global headquarters in Canary Wharf and a data center located in Berkshire. QKD employs the properties of quantum physics and light particles to establish secure keys between entities. These keys are then employed to encrypt and decrypt sensitive data, rendering them impervious to eavesdropping or cyber-attacks perpetrated by quantum computers.

The technology will be tested in various scenarios, encompassing secure video communications, financial transactions, and one-time-pad encryption.

Colin Bell, CEO of HSBC Bank Plc and HSBC Europe, emphasizes the importance of maintaining safe and secure operations, as expected by customers, clients, and employees. Bell states that HSBC is proactively preparing its global operations for the advent of quantum technology. The bank is leading the way in conducting pioneering trials, enlisting highly skilled professionals, and forging strategic partnerships to explore the potential deployment of these technologies as they evolve.

Over the past year, HSBC has intensified its focus on quantum computing. It has entered into a multi-year agreement with IBM to explore the technology and has actively recruited research scientists to establish a dedicated capability within its innovation team.

Furthermore, in June, HSBC initiated a long-term collaboration with Quantinuum, recognized as the world's largest quantum computing company, with an initial emphasis on cybersecurity.