The US Department of the Treasury has launched a Quantum-Readiness Task Force to help the financial sector prepare for the cybersecurity risks posed by future quantum computing.

The public-private initiative follows President Donald Trump's Executive Order 14412, which set out measures to strengthen cryptographic protections for sensitive data, critical infrastructure, and the digital economy.

The Treasury said the task force will help financial institutions transition to quantum-safe technology in an "orderly and operationally resilient" way, building on the G7 Cyber Expert Group's roadmap for adopting post-quantum cryptography.

The initiative forms part of the administration's wider strategy to protect US innovation, strengthen supply chains, and maintain leadership in emerging technologies.

The task force will focus on three areas: sector alignment and the transition to post-quantum cryptography (PQC), third-party and vendor readiness, and risks relating to digital assets and emerging technologies.

While quantum computing promises advances in science and technology, the Treasury warned that sufficiently powerful quantum systems could eventually break many of the cryptographic methods that protect financial data, payment systems, digital identities, and market infrastructure.

The department said moving to post-quantum cryptography is essential to safeguarding economic security and improving the resilience of the financial system.

The task force will bring together government agencies, financial institutions, market infrastructure providers, technology companies and other private-sector organisations.

Participants will work on identifying critical dependencies, improving cryptographic agility, supporting interoperability, strengthening operational resilience, and addressing implementation challenges linked to third-party suppliers and digital assets.

Luke Pettit, Treasury assistant secretary for financial institutions, said: "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.

"The Financial Sector Quantum Readiness Task Force will help ensure that the transition to quantum-safe technology is coordinated, risk-based, and operationally resilient."

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