Quant Selected by Clearing House for US Tokenized-Deposit Network

The Clearing House has selected Quant to power its On-Chain Money Initiative, a planned U.S. payments network designed to let financial institutions clear and settle tokenized deposit transactions.

Quant will provide the network's interoperability, orchestration, and transaction-management layer, connecting tokenized deposits with existing U.S. payment infrastructure, including the RTP and CHIPS networks.

The Clearing House says its networks already clear and settle more than $2 trillion daily across wire, ACH, check-image, and real-time payments.