Quant (QNT) has gained 322% over the past week, reaching $257.69, with a 52% increase in 24 hours. The rally followed announcements on September 24 connecting Quant's technology to bank-led tokenized deposit initiatives in the US and UK.
US Banking System Partnership
The Clearing House, owned by 25 of the largest US banks, selected Quant to power its On-Chain Money Initiative. The initiative, unveiled in June with backing from Bank of America, Citi, JPMorgan, and Wells Fargo, aims to create a shared network for clearing and settling tokenized deposits between financial institutions.
Quant will provide the network's interoperability, orchestration, and transaction-management layer. The technology will also connect the network to existing fiat rails, including RTP and CHIPS. The Clearing House expects the network to open to participating institutions in the first half of 2027.
UK Tokenized Deposits
On the same day, UK Finance announced the first live customer transactions using tokenized sterling deposits. The pilots ran on a shared platform developed by Quant for the Great British Tokenised Deposit (GBTD) initiative, which includes Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest, and Santander.
The initial transactions covered two remortgage completions and a marketplace purchase, with funds locked and released automatically once conditions were met.
Earlier Partnerships
Quant has established other institutional connections, including a March integration with Murex's MX.3 platform. The European Central Bank also selected Quant as one of nearly 70 pioneer partners to help test the digital euro in 2025.
