Quant Surges on Partnerships with US Banks and UK Finance
Quant (QNT) has seen a significant surge in price over the past week, climbing by an impressive 322% to reach $257.69. This gain is even more remarkable considering it also rose by 52% in just 24 hours, placing it among the top daily gainers.
The catalyst for this price increase lies in two recent announcements made on September 24. Both of these tie Quant's software directly to bank-led tokenized deposit networks in both the US and UK.
One of these key partnerships is with The Clearing House, a network owned by 25 of the largest US banks. This entity has selected Quant to power its On-Chain Money Initiative, which aims to create a shared network for clearing and settling tokenized deposits between financial institutions on an around-the-clock basis.
Quant will provide the crucial interoperability, orchestration, and transaction-management layer for this network, as well as linking it to existing fiat rails such as RTP and CHIPS. The Clearing House expects its network to open to participating institutions in the first half of 2027, with current networks already settling over $2 trillion daily.
Meanwhile, in London, UK Finance announced that Quant had facilitated live customer transactions using tokenized sterling deposits through its shared platform for the Great British Tokenised Deposit (GBTD) initiative. This initiative includes several major banks such as Barclays and HSBC UK.