This news made me sit up straight today.
The Clearing House—i.e., the U.S. payments organization that handles $2 trillion a day in clearing—announced yesterday that it has partnered with Quant, using its technology to build a tokenized deposit network for 25 U.S. banks. JPMorgan, Bank of America, Citigroup, and Wells Fargo are all on the list, with plans to go live in the first half of 2027.
Price increases aren’t the main point. QNT rose by nearly 30% in a single day, hitting an intrayear high around $95—that’s the market voting with its feet. What really caught my attention is the order of things: after stablecoins have been argued about for so many years, the first real move by big Wall Street banks is not to issue stablecoins, but to tokenize their own deposits. The regulatory framework is already there, and the clearinghouse provides the backstop—there’s even no need to wait for CBDCs. Banks just pick up their own ledger and move it on-chain.
This shows the cast of online finance is changing: from retail people trading crypto to the bank’s clearing layer. Once you understand this step, you’ll know where the money for the next wave of RWA is likely coming from.
What do you think—after tokenized deposits go on-chain at scale, will the first thing to get eaten be the stablecoin market, or the traditional cross-border settlement business?
Not investment advice. DYOR. Trading involves risk.
$QNT $USDC #代币化存款 #RWA
The Clearing House—i.e., the U.S. payments organization that handles $2 trillion a day in clearing—announced yesterday that it has partnered with Quant, using its technology to build a tokenized deposit network for 25 U.S. banks. JPMorgan, Bank of America, Citigroup, and Wells Fargo are all on the list, with plans to go live in the first half of 2027.
Price increases aren’t the main point. QNT rose by nearly 30% in a single day, hitting an intrayear high around $95—that’s the market voting with its feet. What really caught my attention is the order of things: after stablecoins have been argued about for so many years, the first real move by big Wall Street banks is not to issue stablecoins, but to tokenize their own deposits. The regulatory framework is already there, and the clearinghouse provides the backstop—there’s even no need to wait for CBDCs. Banks just pick up their own ledger and move it on-chain.
This shows the cast of online finance is changing: from retail people trading crypto to the bank’s clearing layer. Once you understand this step, you’ll know where the money for the next wave of RWA is likely coming from.
What do you think—after tokenized deposits go on-chain at scale, will the first thing to get eaten be the stablecoin market, or the traditional cross-border settlement business?
Not investment advice. DYOR. Trading involves risk.
$QNT $USDC #代币化存款 #RWA