Quantum Threats, Tokenisation Trends Dominate Sibos Finale
The final day of Sibos 2026 in Miami focused on quantum computing and tokenisation, with experts discussing the future of financial security and innovation.
Quantum computing: preparing for Q-Day
A panel moderated by Tom Patterson of Accenture highlighted the urgent need for financial institutions to build post-quantum encryption defences. Jean-Francois Legault of JP Morgan warned that current encryption methods may not withstand quantum computers, which could decrypt sensitive information. He emphasized that encryption is the weakest link in the security chain, and if one participant weakens the encryption, everyone must downgrade to maintain compatibility, further exacerbating the vulnerability.
The panel agreed that artificial intelligence is accelerating the timeline to Q-Day, when quantum computers can break current cryptographic systems. Estimates for Q-Day range from 2029 to the 2030s. Huda Idrees of the Royal Bank of Canada predicted Q-Day could arrive by 2035, while Manuel Proissl of IBM offered a more conservative estimate of the early 2030s. Proissl stressed that institutions must act now, as clients and regulators will demand quantum-safe protections, with potential license revocations for non-compliance.
Tokenisation: reshaping global finance
Gregg Bell of Hashgraph discussed how tokenisation is moving from pilot projects to core business operations at major banks. He sees potential for blockchain to enhance trust in AI agents by providing audit trails, which could address regulatory concerns. Bell highlighted that the largest global investment banks are integrating tokenisation into their core operations, while regional banks are adopting consortium-based approaches.
Waqar Chaudry of Standard Chartered explained how tokenisation enables 24/7 settlement and reduces friction in cross-border transactions. However, he noted challenges like fragmentation and the need for standardised messaging protocols, citing ongoing discussions with Swift and ISO to address stablecoin integration.
In a related development, Thomas Steinborn of Smartstream discussed how AI-powered reconciliation is transforming back-office operations, offering up to 70% savings in some cases. He emphasised the importance of deterministic guardrails in financial AI systems to ensure transparency and accountability, particularly for audit purposes. Steinborn also noted regional differences in AI adoption, with U.S. firms leading aggressively, APAC firms collaborating closely with regulators, and Europe taking a more cautious approach.
As Sibos 2026 concluded, the event’s discussions showed the rapid evolution of digital finance, with over 11,000 delegates participating. The conference will next take place in Singapore in 2027.
AI and quantum computing: a double-edged sword
Huda Idrees highlighted the dual nature of AI in quantum computing. While AI can expose vulnerabilities by identifying long-lived digital certificates, it also strengthens quantum defenses by improving quantum circuits and algorithms. This duality shows the need for proactive measures in both offensive and defensive cybersecurity strategies.
Hart Montgomery emphasized AI’s role in accelerating quantum-safe cryptography development. He noted that AI models have helped identify more efficient circuits, enhancing the security of quantum algorithms. Montgomery warned that even a small chance of a “business apocalypse” due to quantum threats should prompt immediate action.
The future of tokenisation and AI integration
Waqar Chaudry discussed the need for standardized messaging protocols in tokenised finance, citing ongoing efforts with Swift and ISO to integrate stablecoins. He acknowledged fragmentation challenges, particularly in tokenised deposits, which hinder interoperability between institutions.
