The U.S. Department of the Treasury launched a new Quantum-Readiness Task Force, which will work to establish guidelines to strengthen cryptographic protections for sensitive data, critical infrastructure, and digital economy.
The Quantum-Readiness Task Force is a public-private initiative to help accelerate the U.S. financial sector’s transition to quantum-safe technology. It builds on the G7 Cyber Expert Group roadmap for the transition to post-quantum cryptography.
Quantum computing has the potential to transform science and technology, but it also poses a long-term cybersecurity challenge. The concern is that future quantum systems could break many of the cryptographic tools that protect financial data, payment systems, digital identities, and market infrastructure. Transitioning to post-quantum cryptography is essential to protecting U.S. economic security.
“America must lead in securing the technologies that power our economy,” Secretary of the Treasury Scott Bessent said. “This Task Force will help ensure our financial system remains strong, secure, and competitive as new technologies reshape the global landscape.”
The task force will bring together government, financial institutions, financial market infrastructures, technology providers, and other private-sector leaders. It will focus on practical, risk-based approaches to quantum readiness, including identifying critical dependencies, improving cryptographic agility, promoting interoperability, strengthening operational resilience, and addressing implementation challenges related to third-party dependencies and digital assets.
“Quantum computing holds significant promise, but it also presents a serious long-term challenge to the cryptographic tools that underpin the U.S. financial system,” Treasury Assistant Secretary for Financial Institutions Luke Pettit said. “The Financial Sector Quantum Readiness Task Force will help ensure that the transition to quantum-safe technology is coordinated, risk-based, and operationally resilient. By bringing together government and industry to lead the transition to quantum-safe finance, the U.S. will strengthen trust in its financial system and reinforce its economic and national security.”
The task force will operate through three workstreams: Sector Alignment & PQC Transition; Third-Party & Vendor Readiness; and Digital Assets and Emerging Technology Risk.
“Post-quantum cryptography readiness is no longer a future-proofing exercise—it is a present-day risk control,” Deborah Guild, chair of the Financial Services Sector Coordinating Council and head of Technology at PNC Financial Services Group, said. “The transition requires organizations to prioritize critical systems and processes, manage dependencies across the financial ecosystem, and address implementation challenges. This task force sets the conditions for industry and government to align priorities and accelerate the transition to post-quantum cryptography.”