Clearing House Chooses Quant for Tokenized Bank Deposit Network

The Clearing House has chosen Quant to supply software for its On-Chain Money Initiative, which aims to connect tokenized bank deposits to established fiat payment systems. This planned network would enable immediate settlement and payments that trigger when agreed conditions are met.

The role of Quant's utility token, QNT, in this project is left unclear. While Quant will provide software for the layer connecting systems, orchestrating activity, and managing transactions, it does not address whether transactions require QNT.

QNT registered an intraday high of $373 on September 27, but retraced heavily on September 28, registering an intraday low of $195.35 before rebounding.