BTQ Technologies and MoonPay Korea Collaborate on Post-Quantum Security for Stablecoin Infrastructure

Insider Brief

• BTQ Technologies has joined forces with MoonPay Korea to reinforce the security of its Korean won-backed stablecoin infrastructure, prioritizing post-quantum cryptography (PQC).
• The collaboration will establish a security roadmap centered on post-quantum measures, while testing BTQ’s Quantum Secure Stablecoin Network (QSSN) in collaboration with local banking institutions.
• This partnership enhances BTQ's existing initiatives with organizations like Finger, iM Bank, LINE NEXT, and the Kaia DLT Foundation, aiming for a comprehensive security approach.

In a press release, BTQ Technologies Corp. describes this partnership as a strategic move to strengthen the cryptocurrency payment landscape in Korea.

MoonPay Korea is focused on developing a comprehensive on-chain infrastructure for the emerging stablecoin market tied to the Korean won. This infrastructure encompasses the entire lifecycle of stablecoin transactions, including issuance, distribution, wallet access, and real-time currency conversion to ensure efficient delivery to both users and merchants. BTQ's commitment is to safeguard this infrastructure against existing and anticipated quantum threats.

The partnership places BTQ at the heart of Korea’s rapidly evolving stablecoin ecosystem, which aims to connect with MoonPay’s expansive global network, serving more than 35 million customers across nearly 180 countries and incorporating over 1,500 enterprise clients.

The key components of the partnership include:

• Development of a Quantum-Transition Roadmap: BTQ and MoonPay Korea will collaboratively craft a strategy for integrating PQC into MoonPay's stablecoin framework, which will involve a thorough risk assessment and phased migration plan.
• Proof of Concept for QSSN: A test of BTQ's QSSN technology will be conducted with Korean banks, focusing on quantum-resistant transaction validation and cryptographic key management integrated within the stablecoin ecosystem.
• Layered Security Enhancements: The firms plan to ensure PQC readiness across all aspects of MoonPay's services, from coin issuance to wallet management and delivery channels.
• Engagement with Financial Institutions: BTQ will facilitate partnerships with local banks and institutions to champion quantum-safe practices within Korea's stablecoin landscape.

Bugeon Lee, Head of APAC at MoonPay, stated, “Our lending and settlement capabilities cover the entire operational spectrum. Partnering with BTQ will help us navigate the quantum future, ensuring our infrastructure is resilient and secure.”

Olivier Roussy Newton, CEO of BTQ Technologies, emphasized the significance of incorporating security from the outset. “The architecture being developed for stablecoins in Korea is crucial. By including quantum security at this stage, we can ensure long-term protection against potential threats.”

Korea is transitioning from pilot programs led by banks toward a broader adoption of digital currencies, establishing a secure and data-driven framework for won-backed stablecoins. Such progress is supported by the foundational role that MoonPay Korea is playing, notably by facilitating the KRW Stablecoin Consortium, which includes Woori Bank, Korea’s oldest commercial institution.

Digital currencies relying on national currencies necessitate robust cryptographic safeguards for transaction rights and asset authenticity. They must remain secure during the era when quantum computing is expected to compromise current public-key encryption methods. This environment makes post-quantum protection not just an enhancement but a foundational requirement for Korea’s digital finance strategies.

The collaboration allows BTQ to build on its previous stablecoin security endeavors and solidifies its stance as a key provider of PQC for Korea's burgeoning digital asset landscape. Previously, BTQ's QSSN was chosen to offer core PQC technology for initial projects involving Finger Inc. and iM Bank, marking a substantial step toward creating Korea’s first bank-led stablecoin utilizing post-quantum methodologies.

As Youngsuk “Jeff” Choi, Chief Strategy Officer of BTQ Technologies noted, “Korea is paving the way for the future of regulated stablecoins, and the infrastructural decisions made today are bound to shape the future market dynamics.”

The interplay between wallets, custody solutions, and transaction networks heavily relies on public-key systems that quantum technology threatens. Hence, BTQ's QSSN focuses on implementing PQC for all aspects, ensuring a secure transition toward a digital asset ecosystem resilient against future computational advancements.

Ultimately, the collaboration aims to extend post-quantum protection across the board—encompassing issuers, banks, wallets, and merchants—facilitating a secure infrastructure environment for the ongoing evolution of stablecoins in Korea.