Security Experiment for ML-DSA Institutional Transfers Begins on NEAR Testnet

Banks and financial regulators have initiated a security experiment for quantum-resistant digital asset transfers on the NEAR Protocol (NEAR) testnet. The experiment focuses on wallet creation and on-chain transfers, utilizing the U.S. standard ML-DSA-65 signature method. SafeHeron announced that it will participate as a technical partner under the Responsible Fintech Institute (RFI). Participating institutions include Abu Dhabi Global Market (ADGM), Bhutan's Gelephu Financial Services Office (GFSO), Malta Financial Services Authority (MFSA), Bison Bank, and DK Bank. The core of this pilot is to validate quantum-resistant cryptography under conditions closely resembling actual financial institution workflows. The Multi-Party Computation (MPC) protocol will be combined with ML-DSA-65 and applied to institutional wallets and transfer procedures. MPC involves multiple participants sharing the signing of a private key. Regulatory authorities will participate as observers in the first phase and will later engage in governance discussions. The pilot is designed with a non-custodial 2-of-2 MPC structure, requiring both participants to sign for a transaction to proceed. NIST has described ML-DSA as an algorithm safe against large-scale quantum computer attacks. The blockchain industry is also seeing attempts to apply quantum-resistant signature systems. SafeHeron plans to open-source the research and protocol design following the pilot. This experiment demonstrates that quantum-resistant cryptography is becoming a key item in institutional infrastructure assessments.

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