Bitcoin Magazine
Galaxy (GLXY) Commits $5 Million to Prepare Bitcoin for the Quantum Threat
Galaxy Digital launched a Bitcoin Quantum Readiness Initiative today, a program that commits up to $5 million in developer grants, a research effort, and a new advisory council to harden the network against the arrival of powerful quantum computers.
The Nasdaq-listed firm framed the multi-pillar effort as an attempt to close a gap between two worlds moving at different speeds.
“There’s a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” said Alex Thorn, head of firmwide research at Galaxy, whose team has tracked the threat for Wall Street and cast it as a long-term engineering problem rather than a crisis.
Bitcoin’s security rests on elliptic curve cryptography, a scheme that a machine running Shor’s algorithm could break by deriving a private key from an exposed public key.
An attacker with such a tool could forge a signature and drain a wallet, with nothing on-chain to flag the theft. No such computer exists today, yet the estimated timeline for one keeps compressing, a trend the Bitcoin Policy Institute has warned narrows the window for the network to upgrade.
The grant program forms the first pillar. Galaxy said it would fund work on quantum-resistant transaction proposals, the integration of post-quantum signature schemes, tooling for wallet and custodian migration, and formal security audits of proposed code.
Grants will be judged one at a time and paid on a milestone basis, and the firm expects to open applications without delay through the address quantum@galaxy.com.
A research and publishing arm forms the second pillar, with Galaxy Research set to publish analysis of the threat and the developer response for investors, policymakers, and the technical community.
The third pillar is a Quantum Advisory Council that will guide the research and weigh grant proposals. Its first members are Barry Sanders, professor and scientific director of Quantum City at the University of Calgary; Damien Bérubé, an MIT Sea Grant Knauss Fellow; and Eran Tromer, a professor of computer science at Boston University.
“As leaders in the digital assets space, we believe it’s important that we help be part of the solution to any potential threat quantum computing poses to Bitcoin,” said Mike Novogratz, founder and CEO of Galaxy, a figure known for bold price calls on bitcoin. Sanders said quantum timelines “continue to compress” and that bitcoin should be no exception to the preparation underway across governments and industries.
Old and reused addresses face the sharpest risk, since their public keys sit exposed on the ledger. An estimated 1.7 million BTC rest in legacy pay-to-public-key addresses, a stash with keys on permanent display.
Defenses under review center on migration to quantum-resistant address types and new signature schemes, an approach embodied in BIP-360, a proposal from developer Hunter Beast that removes public-key exposure from standard transactions.
That proposal merged into the Bitcoin Improvement Proposal repository this year, and BTQ Technologies deployed a working implementation on a quantum testnet.
Bitcoin’s decentralized governance turns such changes into a slow process of design, review, testing, and deployment that can span years. Some observers cast that structure as the true obstacle, a governance challenge as much as a cryptographic one, and the pool of developers on the problem stays small next to its scale.
The launch lands in an active warning cycle. Galaxy Research has held that the risk is real yet the countermeasures are advancing, and President Trump signed executive orders that advance U.S. quantum work and set a 2031 federal deadline for post-quantum defense. NIST finalized its first post-quantum standards in 2024.
Galaxy said it welcomes co-funders and other stakeholders, and acknowledged that peers may pledge their own funds toward the same goal. The firm cast that prospect as a benefit rather than a rivalry, with an open invitation to institutions and developers who want to join.
This post Galaxy (GLXY) Commits $5 Million to Prepare Bitcoin for the Quantum Threat first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Since Sony announced that it was planning to stop producing physical PlayStation discs in 2028, many people have been justifiably worried about how they will maintain ownership and long-term game access in a disc-free world. But halting production of PlayStation discs also means eliminating the market for cheap used PlayStation discs, which are often available for well below the price of a digital download.
How much is this disc-based discount worth? To find out, Ars analyzed how the prices of 19 current top-selling PlayStation games varied between digital downloads and physical discs (both new and used). We found that, while used discs are the cheapest option for most games for most of the year, the frequent and periodic deep discounts offered on the PlayStation Store often undercut the cheapest game disc options. That state of affairs will likely persist even in a future without PlayStation discs.
For our analysis, we started with Sony's list of the bestsellers on the PlayStation Store. We eliminated any games that weren't available on a physical disc, then used the database over at PlatPrices.com to determine both the "Standard" price and the lowest "Discount" price offered for those games on the PlayStation Store in the last year (as well as the total number of days the discount price was offered).
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Peer-to-peer (P2P) payments have evolved from being a convenient way to split a restaurant bill into one of the most influential forces shaping modern finance. What once seemed like a simple digital alternative to cash has grown into a global movement that is transforming how individuals, businesses, and even entire economies exchange value. As digital adoption accelerates and consumers demand faster, more flexible financial services, P2P payment infrastructure is becoming an essential part of everyday life rather than an optional convenience.
The success of P2P payments lies in their simplicity. Instead of relying on lengthy banking procedures or complex transfer systems, users can send and receive money instantly through digital platforms. This seamless experience has changed consumer expectations. Today, speed is no longer viewed as a premium feature it is the standard. Whether paying a freelancer, reimbursing a friend, supporting family members abroad, or settling invoices with business partners, people increasingly expect transactions to happen in real time.
Businesses are also recognizing the broader opportunities created by P2P ecosystems. Small and medium-sized enterprises, digital marketplaces, gig economy platforms, and e-commerce companies are integrating peer-to-peer payment capabilities to improve customer experiences and accelerate cash flow. Faster settlements reduce operational friction, improve liquidity, and allow businesses to focus more on growth than administrative processes. In highly competitive markets, these efficiencies can become meaningful advantages.
Cross-border payments are another area where P2P technology is making a noticeable impact. International money transfers have traditionally been associated with high fees, long settlement times, and multiple intermediaries. Modern P2P infrastructure is helping simplify these transactions by introducing faster payment rails, digital wallets, and alternative settlement models. While regulatory requirements remain essential, advances in financial technology are steadily reducing barriers that once made global transfers slow and expensive.
One of the most meaningful contributions of P2P finance is its role in expanding financial inclusion. Millions of people around the world have access to smartphones but limited access to traditional banking services. Digital payment platforms provide an entry point into the financial system without requiring extensive physical infrastructure. For entrepreneurs, freelancers, remote workers, and individuals in underserved regions, the ability to receive payments quickly can create new economic opportunities and encourage broader participation in the digital economy.
The rise of embedded finance has further accelerated P2P adoption. Consumers no longer expect financial services to exist only inside banking applications. Instead, payment functionality is increasingly integrated into marketplaces, ride-hailing apps, social commerce platforms, creator ecosystems, and digital communities. Users can send, receive, or request payments without leaving the platforms they already use every day. This shift makes financial transactions feel less like standalone banking activities and more like a natural part of digital interactions.
Technology has also strengthened the security and reliability of P2P payments. Artificial intelligence assists in identifying suspicious transaction patterns, while modern identity verification and fraud prevention systems help reduce financial crime. At the same time, regulatory frameworks continue evolving to balance innovation with consumer protection. Successful P2P platforms understand that trust is built not only through speed but also through transparency, compliance, and responsible risk management.
Despite impressive growth, P2P payments are not designed to replace traditional banks. Instead, they complement the existing financial ecosystem. Banks continue to play vital roles in safeguarding deposits, providing credit, managing regulatory obligations, and supporting broader financial stability. Increasingly, financial institutions are partnering with fintech companies rather than competing directly with them. These collaborations combine the agility of technology providers with the trust and regulatory expertise of established institutions, creating stronger financial experiences for end users.
Looking ahead, peer-to-peer payments are likely to become even more interconnected with emerging technologies. Open banking, programmable payments, digital identity solutions, blockchain infrastructure, and real-time settlement networks are expanding what P2P platforms can deliver. Consumers will increasingly expect financial services that are faster, more personalized, and available wherever digital interactions take place. Businesses that invest in flexible payment infrastructure today will be better positioned to meet these expectations tomorrow.
The story of P2P payments is not simply about moving money faster. It reflects a broader transformation in how financial services are designed, delivered, and experienced. Convenience, accessibility, and seamless digital experiences have become central to modern finance. As technology continues to evolve, peer-to-peer payments will remain an important building block of the next generation of financial infrastructure, helping connect people, businesses, and economies with greater speed and efficiency than ever before.
The future of finance will not be defined by a single innovation but by the ability to make financial interactions feel effortless. Peer-to-peer payments have already demonstrated that when technology removes friction from everyday transactions, it creates value far beyond the payment itself. That quiet transformation is well underway, and its influence will continue to shape the financial landscape for years to come.
P2P Payments Are Changing Finance Faster Than Most People Realize was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Bitcoin Magazine
Anchorage Digital and Binance Launch Off-Exchange Settlement for Institutional Crypto Trading
Anchorage Digital has announced an integration with Binance to bring off-exchange settlement to institutional crypto traders, giving clients access to the world’s largest crypto exchange by volume without surrendering custody of their assets.
The partnership, powered by Atlas — Anchorage Digital’s suite of settlement infrastructure — marks the first off-exchange settlement implementation within that platform. Under the arrangement, institutions can trade on Binance while their assets remain in segregated custody at Anchorage Digital Bank, the first federally chartered crypto bank in the United States.
The structure mirrors how institutional trading works in traditional financial markets, where custody and execution are kept separate. In those markets, assets are held with a custodian and transferred only at final settlement — never sitting on the balance sheet of the trading venue. Crypto has long lacked that separation, requiring institutions to pre-fund exchange accounts and accept counterparty exposure to the venue itself.
“Institutions need crypto market structure that reflects the standards they already rely on in traditional finance,” said Nathan McCauley, co-founder and CEO of Anchorage Digital in a note to Bitcoin Magazine. “Off-Exchange Settlement, powered by Atlas, is designed to separate custody from execution, helping institutions access exchange liquidity while keeping assets in secure custody.”
The arrangement also allows institutions to pledge both crypto assets and USD accounts as collateral, enabling capital deployment while satisfying trading margin requirements — an approach consistent with workflows at traditional financial firms.
Binance has been building out its institutional infrastructure over the past several years, expanding triparty banking and collateral management offerings for professional clients. The Anchorage Digital integration extends that effort.
“Working with Anchorage Digital gives institutional clients another way to access Binance liquidity while managing custody and collateral through a model that is more familiar to traditional financial markets,” said Catherine Chen, Head of VIP & Institutional at Binance.
Atlas is designed to support a range of institutional workflows beyond off-exchange settlement, including trading, lending, collateral management, and other capital markets functions.
Anchorage Digital says the platform is built for the current phase of institutional crypto adoption, where firms entering the market have compliance, custody, and operational requirements that earlier crypto infrastructure was not designed to meet.
Anchorage Digital is backed by Andreessen Horowitz, Goldman Sachs, KKR, GIC, and Visa, and carries a valuation of $4.2 billion.
In addition to Anchorage Digital Bank N.A., the company operates through Anchorage Digital Singapore, licensed by the Monetary Authority of Singapore, and Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services.
This post Anchorage Digital and Binance Launch Off-Exchange Settlement for Institutional Crypto Trading first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
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