Ueno Bank, Paraguay’s largest bank, has established the world’s first system to protect its digital operations and e-signature documents against future quantum computer threats. Serving more than 2.2 million customers, the bank has taken this significant step, ushering in the era of quantum security in the banking sector.

Paraguayan bank introduces quantum security

The primary reason for this step is the ability of quantum computers to break certain cryptographic algorithms in seconds that classical computers struggle to solve. This jeopardizes the legal validity of digital signatures and e-documents. The US National Institute of Standards and Technology (NIST) recommends adopting quantum-resistant cryptography before 2030 to address this threat.

Ueno Bank has built its defenses against this threat using SignQuantum and QAN platform technologies. SignQuantum’s quantum-resistant digital signatures ensure the integrity and authenticity of e-signed documents, while QANplatform’s quantum-resistant blockchain technology securely records document hashes.

This combination of technologies protects data against all types of fraud and provides immutable and mathematically verifiable timestamps without the need for third-party timestamping authorities.

Ueno Bank is the world’s first bank to implement this combination at production scale. Starting with documents, which form the basis of daily business processes, the bank has enhanced its existing e-signature workflows with post-quantum signatures, thus playing a significant pioneering role in ensuring the digital security of millions of its customers.