Cryptocurrency exchange Coinbase revealed its preparations for post-quantum cryptography, asserting that the industry must begin migration efforts immediately despite uncertainty around when a sufficiently powerful quantum computer might emerge.
The company established an Independent Advisory Board on Quantum Computing and Blockchain earlier this year to distinguish between hype and genuine risk. The board concluded with high confidence that a fault-tolerant quantum computer capable of breaking current cryptographic standards will eventually be built, rendering the cryptography securing virtually every major blockchain vulnerable.
While the threat is not imminent, the board stressed that post-quantum cryptographic solutions already exist and are being standardized; the more difficult challenges are operational, including migrating millions of users, coordinating decentralized protocol upgrades, and maintaining current security standards throughout the transition.
Coinbase maintains that debating timelines is largely irrelevant because preparation must begin regardless, and the company is developing detailed playbooks now to enable rapid action when standards mature.
We’re proud to announce the launch of the Bitcoin Security Consortium, in partnership with BlackRock, Fidelity, Block, and more.
— Coinbase
Together we’ll support the long-term security of the Bitcoin network.
Quantum computing is coming. Crypto needs to be ready. pic.twitter.com/T792xvP7jj(@coinbase) July 23, 2026
Coinbase is pursuing three parallel workstreams to advance its quantum readiness. The company is developing PQ-CoreKMS, a post-quantum iteration of its proprietary key management system that currently safeguards approximately 99.9% of custodied assets using state-of-the-art Multi-Party Computation protocols designed to prevent any single party from reconstructing a private key.
Within the next year, Coinbase plans to deliver an automated signing pipeline that integrates secure enclaves, secret-sharing, and threshold cryptography to support post-quantum signature algorithms across distributed environments. Over the subsequent two to three years, a dedicated research effort will build full MPC capabilities for lattice-based and potentially other post-quantum signing schemes.
Beyond key management, Coinbase is conducting a company-wide inventory of all cryptographic systems to rank migration priorities based on criticality, exposure, and complexity, including its Base Layer-2 network as Ethereum advances its own post-quantum roadmap.
Furthermore, Coinbase will co-host its first working session with Stanford University in August, bringing together Bitcoin Core developers, cryptographers, and researchers for focused discussions on Bitcoin’s post-quantum migration. The August workshop aims to assess realistic timelines, evaluate viable migration strategies, and identify what the decentralized developer community requires to move forward. The company intends to convene such sessions regularly to ensure the conversation remains productive and grounded.
Additionally, as a founding member of the Bitcoin Security Consortium alongside BlackRock, Fidelity Digital Assets, Block, Blockstream, Strategy, and others, Coinbase is donating to a fund that supports Bitcoin developers working on quantum-related challenges while dedicating internal engineering resources to open-source contributions, including proposals such as BIP-360.
The consortium will also function as an authoritative source of information on Bitcoin’s security posture and post-quantum preparedness. Coinbase emphasized that no single entity can solve this challenge alone, underscoring the necessity of coordinated efforts among researchers, developers, protocols, and financial institutions.
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