Quant’s native utility token, QNT, experienced a sharp market surge exceeding 16 percent to trade near $110.68. The price jump followed major announcements that the firm’s core technology platform was selected by prominent financial entities to power bank-grade tokenized deposit initiatives in the United States and the United Kingdom.
The Clearing House, a principal U.S. bank-owned payment infrastructure utility that processes more than $2 trillion daily, named Quant to supply the interoperability and transaction-management architecture for its new On-Chain Money Initiative. The deployment will allow 25 major financial institutions-including Bank of America, Citi, J.P. Morgan, and Wells Fargo-to clear and settle tokenized deposit balances over established payment networks such as RTP and CHIPS. Full institutional access to this network is projected for the first half of 2027.
Global Adoption Across the Atlantic
In a parallel development in Europe, Quant’s orchestration platform was utilized by seven leading British banking institutions to process the first live commercial bank customer payments using tokenized sterling deposits over a shared layer. The participating institutions in the UK initiative included:
- Barclays
- HSBC UK
- Lloyds Banking Group
- Monzo
- Nationwide
- NatWest
- Santander
Managed by EY with legal frameworks provided by Linklaters, the British project successfully transitions tokenized deposit concepts into live, actionable transactional workflows while retaining standard commercial banking deposit protections.
Tokenized Deposits
Industry analysts emphasize that tokenized deposits differ fundamentally from stablecoins. While stablecoins are typically issued by private, non-bank entities backed by separate external reserves, a tokenized deposit remains a direct liability of the issuing bank. These digital representations retain the standard regulatory oversight and deposit insurance of traditional accounts, moving automatically according to strict rules set in advance by institutions.
For businesses, this infrastructure enables around-the-clock liquidity management and faster settlement times. For participating banks, joining a shared network through Quant’s technology eliminates the need to build individual proprietary stacks from scratch, marking a definitive step forward in the global transition toward programmable banking money.
