Banks, payment firms and stablecoin issuers can test token issuance, payments and treasury controls on one platform; company also releases open-source cryptography library
MetaMUI, a blockchain developed by SovereignWallet, said on Oct. 14 it has opened a permissioned demonstration network to financial institutions.
Banks, card and payment companies, stablecoin issuers and other blockchain networks can apply to issue deposit tokens and stablecoins, send and spend them through a built-in wallet, and test how funds are secured, without writing smart contracts or building a wallet, the company said.
The company also published a post-quantum cryptography library under the Apache 2.0 license.
Wallets and accounts
According to the company, MetaMUI wallets do not use a seed phrase, the list of recovery words most cryptocurrency wallets rely on. On MetaMUI, an account is a decentralized identifier and keys are credentials registered to it. A lost or exposed key can be replaced by registering a new one to the same identity, without moving the balance.
Institutional funds are held in what the company calls keyless protocol accounts, for which no private key exists. Transfers require signed votes from operators the institution designates.
An operator signs a request naming the recipient and the amount. Other operators verify that signature against keys registered on the chain, then add their own post-quantum signatures. When a majority has signed, the protocol executes the transfer. The request and each vote are recorded on the chain. The recipient and amount cannot be changed after the request is made.
Operators’ signing keys are stored encrypted under keys that remain in the phone’s hardware keystore, the company said. It described the structure as applying the separation-of-duties control in the National Institute of Standards and Technology’s security guidance, SP 800-53.
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What participants can test
Participants can issue tokens from an administration console, send and pay with them in the built-in M.PQC Wallet, approve treasury transfers through operator votes, measure settlement finality under their own load, manage identities and keys, and approve transfers to connected networks.
The company said the demonstration network runs the same architecture as its mainnet, which moved existing users to post-quantum signatures on September 13 without users moving balances or changing addresses.
Institutions that prefer their own wallet can build one with a Wallet SDK published under the Business Source License.
The library
The library contains portable implementations of four algorithms standardized by NIST — ML-KEM, ML-DSA, SLH-DSA and FN-DSA, the last still in draft as FIPS 206 — and four algorithms selected in South Korea’s national post-quantum competition: HAETAE, AIMer, SMAUG-T and NTRU+.
It can be used without MetaMUI in systems such as VPNs and authentication, the company said. Hardware-accelerated versions are licensed commercially. Formal proofs written in the Lean theorem prover are to be published alongside the code.
Background
A June 2026 U.S. executive order set federal deadlines of December 31, 2030, for post-quantum key establishment and December 31, 2031, for post-quantum digital signatures. South Korea’s national plan targets 2035.
On most blockchain networks an account address is derived from a cryptographic key, so changing the cryptography requires each holder to move assets to a new address.
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