The Clearing House has selected Quant to provide the interoperability and transaction-management layer for its On-Chain Money Initiative. The planned network will allow financial institutions to clear and settle tokenized deposits while connecting to existing RTP and CHIPS payment rails.
How Tokenized Deposits Differ from Stablecoins
Quant's role will be to coordinate how tokenized deposits move between participating financial institutions while linking the network to existing fiat payment infrastructure including RTP and CHIPS.
A tokenized deposit remains a deposit liability of the issuing bank, distinguishing this model from a public stablecoin. The blockchain component changes how that claim can be recorded, programmed, and transferred, while the underlying banking relationship remains intact.
From Concept to Architecture
The On-Chain Money Initiative was first announced in June. The selection of Quant represents the project's transition from a broad banking concept toward a specific technology architecture.
The Clearing House says the system could support corporate treasury, liquidity management, cross-border payments, and digital-asset settlement. Payments could also be programmed to execute automatically once agreed conditions are met.
Timeline and Significance
Participating institutions are expected to gain access in the first half of 2027. This represents infrastructure under development rather than a live consumer payment network today.
The scale of The Clearing House—which operates core US financial infrastructure and clears and settles more than $2 trillion per day across wire transfers, ACH, checks, and real-time payments—distinguishes this initiative from individual bank experiments. If successful, the project could allow banks to integrate programmable on-chain money with existing payment infrastructure rather than choosing between the two systems.
