Quant rallies as banks plan tokenized deposit networks

Quant’s QNT token rallied sharply in late September after The Clearing House selected the company’s technology for a planned network linking tokenized bank deposits with existing payment systems. The initiative is expected to become available to participating institutions in the first half of 2027, while UK Finance also announced live customer transactions using tokenized sterling deposits on a platform developed by Quant. The Clearing House’s OnChain Money Initiative is designed to support the clearing and settlement of tokenized commercial bank deposits and connect them with payment networks including Real-Time Payments and CHIPS. Quant is to provide the initiative’s interoperability and transaction-management technology. The Clearing House operates payment networks that process more than $2 trillion daily, according to reports describing the announcement. The announcement was one of two developments reported on September 24. UK Finance said customers had completed transactions using tokenized sterling deposits through a shared platform developed for the Great British Tokenised Deposit initiative.