Key highlights:
- QNT rallied 27% after Quant announced its partnership with The Clearing House.
- The Clearing House selected Quant to power its On-Chain Money Initiative.
- The On-Chain Money Initiative is expected to launch in the first half of 2027.
Quant Network’s QNT token exploded 27% in the past 24 hours, pushing its price to around $95. The rally comes after news that Quant had been chosen by The Clearing House to help build a new payments network for banks in the U.S.
Quant secures The Clearing House partnership
The Clearing House announced on Thursday that it had selected Quant to power its On-Chain Money Initiative, an initiative the organization shared in June. This project is designed to build a new interoperable payments network that allows banks of all sizes to clear and settle tokenized deposits.
The tokenized deposits would keep the same legal protections and regulatory oversight as cash sitting in a bank account. Only the way the money moves is different, since it travels on blockchain-based rails.
Quant’s job in the partnership is to design the interoperability, orchestration, and transaction-management layer for the network. The firm’s technology will make it possible for tokenized deposits issued by one bank to be usable and recognized by another bank on the same network.
The firm’s infrastructure will also connect this new network to the fiat payment systems banks use. This includes the RTP network for real-time payments and the CHIPS network, which handles large-value domestic and international transfers.
This means banks won’t have to abandon their current systems to start using tokenized deposits. The new network is designed to work with what’s already in place.
The goal behind the project is to make bank-to-bank payments faster and more automatic. The network will support payments that settle immediately, with transactions that can trigger automatically once certain pre-agreed conditions are met.
The UK made progress with this kind of transaction. Top banks in the country, including Barclays, successfully moved tokenized deposits between different financial institutions using blockchain technology.
Why this deal matters for Quant and the banking system
Gilbert Verdian, Quant’s founder and CEO, described the partnership as a major milestone for the company, adding that “Tokenized deposits are now the de facto way banks move money on-chain.”
Sal Karakaplan, Chief Strategy Officer at The Clearing House, also detailed why the organization brought Quant on board.
“The Clearing House has a long history of building and operating trusted payment networks that serve the banking industry. Quant brings the technology and expertise needed to support the network, giving financial institutions of all sizes a path to participate,” he said.
Quant, for its part, has a track record of working with both central and commercial banks internationally, including projects in the United Kingdom. It is also known for helping regulated institutions adopt blockchain technology without compromising on security or compliance requirements.
The full On-Chain Money Initiative is expected to be available to participating financial institutions sometime in the first half of 2027.
Source:: QNT Jumps 27% as Quant Network Partners With The Clearing House