Quant (QNT) Soars on Major US Bank Partnership
Quant's token (QNT) has surged 11.79% in one hour, following a major announcement from The Clearing House (TCH), which runs core US payment rails like RTP and CHIPS.
The partnership with TCH is the key catalyst for QNT's recent price move, with news outlets attributing its multi-day rally to this deal.
TCH selected Quant to power its On-Chain Money Initiative, an interoperable network for tokenised deposits and 24/7 interbank settlement, clearing over $2 trillion in payments per day.
The US deal is part of a larger narrative that QNT sits at the center of bank-grade tokenised money, with Quant also playing a role in the UK's tokenised sterling deposits project (GBTD).
The 1-hour move was driven by short squeeze and forced liquidations, with derivatives data showing around $12.86 million of shorts being liquidated versus $4.83 million of longs.