Quant Prices Smash After Banking Infrastructure News

Quant's price surged by over 480% last week before experiencing a retracement that reduced its advance to around 160%. The token remains above its earlier level, and the rally is attributed to major banking infrastructure news. Midnight's price has also climbed more than 100% in the past week.

The Quant price jump can be linked to two significant developments: The Clearing House deal and a UK banking pilot involving 7 major banks. In the former, Quant was chosen for an on-chain payment network targeting 2027, giving it a role in tokenized bank money development. This connection with the US banking system is owned by 25 major banks, including Chase, Bank of America, HSBC, and Citi, which settles over $2 trillion daily.

Greg Lunt notes that Quant's technology helps financial systems communicate, making it useful for banks creating tokenized deposits that need to work with existing payment networks. The UK banking pilot, on the other hand, involved live tokenized sterling trials built by Quant.