Clearing House Taps Quant for Tokenized Deposit Network

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

TCH's On-Chain Money Initiative aims to connect and manage the new network using blockchain technology. The goal is to create a system where banks can send and settle tokenized deposits efficiently.

The Clearing House chose Quant due to its interoperability, allowing different blockchains, payment systems, and financial networks to communicate with each other seamlessly. This means banks don't have to move everything onto one blockchain.

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