Quant was selected by The Clearing House to power its On-Chain Money Initiative, an interoperable payments network that will allow financial institutions of all sizes to settle tokenized deposits in the United States.
The Clearing House, a clearing entity owned by the country’s largest banks, chose Quant through a competitive process to provide the initiative’s interoperability, orchestration, and transaction management layer.
It will have direct connectivity to existing fiat payment networks, including RTP® and CHIPS®. The network will be available to financial institutions in the first half of 2027.
Both firms seek to solve a specific problem. Tokenized deposits issued today by different banks operate in closed, mutually incompatible systems, creating fragmentation across networks, chains, and funds.
Quant will also act as a commercial solution for banks that process through The Clearing House but do not yet have tokenized deposit capabilities, through its Tokenised Deposits-as-a-Service (TDaaS) platform. The company’s technology already operates in regulated environments in the United Kingdom and Europe.
Source: https://quant.network/news/quant-powers-the-clearing-houses-on-chain-money-initiative-in-the-us/
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