TLDR
The Clearing House, a US bank-owned payments operator, has picked Quant to supply software for its planned tokenized deposit network.
Quant will connect the network to existing payment systems RTP and CHIPS and offer a service for banks without their own tools.
The network is expected to open to participating institutions in the first half of 2027.
Neither company says banks must buy, hold or pay fees in the QNT token.
QNT hit $373 on September 27, fell to $195.35 on September 28, and now trades at $256.27.
The Clearing House, a payments operator owned by US banks, has chosen Quant to supply software for a planned network for tokenized bank deposits. The deal was announced on September 24.
The network is part of The Clearing House’s On-Chain Money Initiative, first announced in June. It will let banks of all sizes clear and settle tokenized deposit transactions.
A tokenized deposit is a digital version of a bank deposit. Unlike a stablecoin, it remains a claim on the bank that issued it and keeps the protections of a regular deposit.
What Quant Will Provide
Quant will run the network’s interoperability, orchestration and transaction management layer. This part coordinates the clearing and settlement of tokenized deposits.
Its technology will also connect the network to RTP and CHIPS, two existing payment systems run by The Clearing House. This would let bank money move between blockchain and traditional systems.
The Clearing House said the network aims to support instant settlement and payments that trigger automatically when agreed conditions are met. Its current networks clear and settle more than $2 trillion each day.
Quant also plans to offer Tokenized Deposits-as-a-Service. This is for US institutions using The Clearing House that do not have their own tokenized deposit tools.
“Building interbank infrastructure for tokenized deposits requires proven technology that can scale,” said Sal Karakaplan, Chief Strategy Officer of The Clearing House.
Quant founder and CEO Gilbert Verdian called the deal “a defining step in the global transition to programmable money.”
The network is expected to open to participating institutions in the first half of 2027. No banks have been named as users of Quant’s extra service, and no transaction volumes or revenue figures have been shared.
Questions Over the QNT Token
Neither announcement says banks must buy, hold or pay fees in QNT, Quant’s utility token. They also do not say QNT will be used as a settlement asset or burned.
Quant’s terms describe QNT as a token customers may use for its products and services. However, its FAQ says platform fees can be paid in US dollars, while subscriptions can be made with QNT.
Fees may be paid monthly or annually in advance. Card payments and invoices are allowed where Quant agrees, which leaves room for banks to pay without the token.
A 2022 description of Overledger, Quant’s technology for linking different ledgers, said transactions on that platform are powered by QNT. The 2026 announcements do not say whether that model applies to the new bank network.
Banks backed the initiative in June, before Quant was chosen. That support is not a disclosed commitment to buy QNT or use Quant’s service.
QNT’s price has swung sharply since the news. The token hit an intraday high of $373 on September 27, then fell to a low of $195.35 on September 28 before bouncing back.
QNT was last trading at $256.27, up 12.62% in 24 hours. It is up about 281% over the past seven days and about 317% over the past 30 days.
The post Quant Selected by The Clearing House for US Tokenized Deposit Network appeared first on Blockonomi.