Portugal

Banco de Portugal and Banco de España sign memorandum of understanding

Read full article at source ↗

Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 23/10/2026, 16:56:25 UTC.

Briefings

Portugal and Spain signed a Memorandum of Understanding to develop a post-quantum cryptography cooperation program, aiming to mitigate systemic risks from quantum computing threats. The initiative involves three phases: information exchange, dependency analysis, and interoperability testing, with a joint industry group to drive progress. Financial institutions from both countries met for three days to discuss the program alongside AI and competitiveness issues.

Key points

• Portugal and Spain signed a Memorandum of Understanding to develop a post-quantum cryptography cooperation program.
• The program involves three phases: information exchange, dependency analysis, and interoperability testing.

Context

This agreement addresses emerging quantum computing risks to financial stability, with both banks advising coordinated migration to quantum-resistant technologies. Spain holds 25% of Portugal's financial positions in the euro area.

Limitations

Evidence covers a single meeting period (May 2026) and is limited to the two banks' statements. Specific dates for the three-day meeting are not provided, and the program's full timeline beyond the initial phases remains unconfirmed.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 23/10/2026, 17:16:05 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

View archived briefing on IPFS
bafybeigho24tx2fw2iywg4xmthmub7lxlshiz5ry72tnvhsx6vwcndlc3q