Clearing House Partners with Quant to Create Tokenized Deposit Network

The Clearing House, a US banking company that processes over $2 trillion in payments every business day, has chosen Quant (QNT) for its new tokenized deposit network.

The Clearing House, founded in 1853, runs three major payment networks: CHIPS, EPN, and RTP, which together process more than $2 trillion every business day.

Quant will provide the technology to connect and manage the new On-Chain Money Initiative, which aims to create a network where banks can send and settle tokenized deposits.

According to Sal Karakaplan, Chief Strategy Officer at The Clearing House, Quant has the experience needed to help build the network and allow banks of different sizes to participate.