Ueno Bank, Paraguay's largest bank, has implemented advanced quantum-resistant cybersecurity solutions from SignQuantum and QANplatform, proactively safeguarding its digital operations and 2.2 million customers against the emerging threats posed by quantum computing.

Ueno Bank Pioneers Quantum-Resistant Security

Ueno Bank, the largest financial institution in Paraguay with a customer base exceeding 2.2 million, has announced the implementation of state-of-the-art quantum-resistant cybersecurity measures. This strategic move, supported by SignQuantum and QANplatform, positions the bank as an early adopter in safeguarding digital assets and customer data against the future capabilities of quantum computers.

The initiative involves integrating SignQuantum for quantum-resistant digital signatures, ensuring the integrity and authenticity of electronically signed documents for both the bank and its extensive user base. Concurrently, QANplatform's quantum-resistant blockchain technology is being utilized to securely upload document hashes with post-quantum signatures, thereby protecting sensitive data from potential falsification and "time travel attacks" by malicious actors employing quantum computing capabilities.

ITTI, Paraguay's leading technology provider and the exclusive Latin American distributor for SignQuantum, is facilitating the deployment and integration of these advanced security solutions.

Strategic Imperative: Addressing Quantum Threats

The proactive adoption by Ueno Bank underscores a growing recognition within the financial sector of the impending threats posed by quantum computing. Traditional cryptographic systems, widely used today, are vulnerable to decryption by sufficiently powerful quantum computers, creating a risk scenario known as "harvest now, decrypt later" (HNDL), where encrypted data is collected today with the intent of decrypting it in the future.

This strategic shift comes amidst a rapidly expanding market for post-quantum cryptography (PQC) solutions. Analysts project the global PQC migration market to grow substantially, from an estimated USD 1.9 billion in 2025 to approximately USD 12.4 billion by 2035, reflecting a compound annual growth rate (CAGR) of 20.6%. Regulatory bodies globally, including the U.S. National Institute of Standards and Technology (NIST), are actively standardizing PQC algorithms and urging a transition to quantum-safe cryptography, with current digital signature algorithms slated for deprecation by 2030. Furthermore, U.S. lawmakers are advocating for swift adoption of post-quantum solutions, and a "Post-Quantum Financial Infrastructure Framework (PQFIF)" was proposed to the U.S. Crypto Assets Task Force - SEC in September 2025, outlining a roadmap for the quantum-safe transition of the digital asset ecosystem.

While Ueno Bank sets a precedent in Latin America, other global financial institutions are also exploring or implementing quantum-secure technologies. HSBC, for example, is utilizing PQC virtual private network (VPN) tunnels and quantum random number generation (QRNG) for tokenized gold transactions, while Banco Sabadell has undertaken projects to modernize its encryption protocols, focusing on "crypto agility" – the ability to rapidly switch cryptographic algorithms as threats evolve.

Industry Leaders Comment on Forward-Looking Strategy

Executives from the involved entities emphasized the importance of this pioneering move.

"Ueno Bank is a technology-driven financial innovator, committed to leading the way in innovation and security," stated Juan Manuel Gustale, President at Ueno Bank. "Adopting SignQuantum and QANplatform's technology both mitigates future risks and builds confidence with our customers and partners to bring a new standard of cybersecurity in the financial sector."

Nazmath Nazeer, CEO of SignQuantum, highlighted the bank's leadership:

"As the first bank worldwide to implement this technology, Ueno Bank is demonstrating exceptional foresight and leadership to better protect its operation and serve its customers."

From a regional perspective, Luis Angulo, Vice President of ITTI, noted the broader implications:

"Ueno Bank's move towards quantum-resistant security sends a strong signal to the financial and technology sectors in Latin America."

Johann Polecsak, Co-Founder and CTO of QANplatform, expressed enthusiasm for the practical application of their technology:

"We're thrilled to see QANplatform's quantum-resistant blockchain deployed in robust, real-life environments like Ueno Bank... This is an outstanding opportunity to prove that QANplatform is capable of not only safeguarding, but also handling large volumes of digital transactions."

Implications and Future Outlook for the Financial Sector

Ueno Bank's early adoption of quantum-resistant cybersecurity is expected to serve as a significant benchmark for the global financial industry. This move not only enhances the bank's reputation as a technology innovator but also strengthens customer trust by demonstrating a commitment to future-proof security.

The broader financial sector is poised for accelerated adoption of similar technologies, driven by both evolving threats and increasing regulatory pressure. Companies specializing in PQC solutions, such as IBM, Quantinuum, PQShield, Thales Group, and SandboxAQ, are well-positioned to capitalize on this trend. The digital signature market itself is experiencing explosive growth, projected from USD 10.80 billion in 2025 to USD 118.88 billion by 2032, with a 40.9% CAGR, further highlighting the critical need for quantum-resistant capabilities in this area. As quantum computing advances, financial institutions will increasingly prioritize strategic investments in cryptographic agility and robust security frameworks to maintain market integrity and protect sensitive data.