Moody’s Corporation (MCO), a credit ratings and risk data firm, says quantum computing is becoming a future cyber risk for banks and digital finance firms as more assets move onto blockchain systems.
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Double your IBM exposure with Tradr's IBXIn a new sector report, Moody’s said cyber risk tied to blockchain finance has moved from a niche crypto issue to a wider risk for banks, exchanges, custodians, stablecoin firms, and tokenized asset platforms. The report said, “As digital finance markets attract a growing share of institutional clientele, cyber risk linked to blockchain-based platforms has evolved from a niche risk to one that is mainstream.”
The concern is not that quantum computers pose an urgent threat today. Instead, Moody’s said the risk is that future quantum systems could break the codes that protect private keys, digital wallets, APIs, and bank data links. That could allow hackers to gain access to assets or data meant to stay locked.
Banks Are Already Getting Ready
Large banks are not waiting for the risk to become real. JPMorgan Chase & Co. (JPM), one of the largest banks in the U.S., is testing post-quantum tools and building systems that can swap out weak code over time. HSBC Holdings plc (HSBC), a global bank based in London, has tested quantum-secure links for internal systems and simulated foreign exchange trades.
Meanwhile, Coinbase Global (COIN), a major crypto exchange, and other firms in digital asset markets could face close watch as the sector grows. Moody’s said past hacks often came from weak spots around the chain, such as vendors, key systems, bridges, access tools, and software links, rather than from the blockchain itself.
In fact, public blockchains are often hard to reverse once a deal is final. In normal finance, banks may be able to freeze funds or undo fraud. On many blockchain networks, that safety net is much weaker.
Quantum Risk Could Draw More Rules
Moody’s also said the risk could become a larger focus for regulators. The EU’s Digital Operational Resilience Act, known as DORA, is already pushing firms to show stronger tech risk controls. In the U.S. and Asia, regulators are also paying more attention to cyber risk, third-party vendors, and future code upgrades.
From a market perspective, this could lift long-term focus on firms tied to quantum and AI, including International Business Machines (IBM), Alphabet (GOOGL), Microsoft (MSFT), Nvidia (NVDA), IonQ (IONQ), and Rigetti Computing (RGTI). Still, Moody’s core point is more about risk than hype. Quantum computing may still be years away from breaking today’s key systems, but banks and crypto firms may need to spend now to avoid much higher costs later.
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