Over the past week, Quant (QNT) surged 322% to reach $257.69. The token also jumped 52% in a single 24-hour period, securing a spot among the day’s top performers.
These massive gains came on the heels of two major announcements on September 24, both connecting Quant’s software to bank-driven tokenized deposit networks in both the United States and the United Kingdom.
The Clearing House Brings Quant Into US Bank Plumbing
Quant was chosen by The Clearing House—an entity owned by 25 major US banks—to power its On-Chain Money Initiative. The project was initially introduced in June with the support of Wells Fargo, JPMorgan, Citi, and Bank of America.
Designed as a shared network for financial institutions to clear and settle tokenized deposits around the clock, these tokenized deposits function as digital equivalents of traditional bank deposits while maintaining the same level of regulatory oversight and security.
Within this infrastructure, Quant serves as the transaction-management, orchestration, and interoperability layer. Furthermore, its technology bridges the network to traditional fiat rails such as CHIPS and RTP.
Participating institutions are slated to gain access to the network in the first half of 2027. Currently, The Clearing House’s existing networks process over $2 trillion in transactions daily.
Gilbert Verdian, the founder and CEO of Quant, emphasized the global significance of the agreement.
“Tokenized deposits are now the de facto way banks move money on-chain, and The Clearing House sits at the heart of the U.S. banking system, meaning this partnership sets a standard for the rest of the world to follow,” Verdian said.
London Added a Second Headline the Same Day
On that exact same day, UK Finance revealed the execution of the country’s first live customer transactions utilizing tokenized sterling deposits. These trials took place on a collaborative platform built by Quant for the Great British Tokenised Deposit (GBTD) project.
The GBTD initiative features major participants including Santander, NatWest, Nationwide, Monzo, Lloyds Banking Group, HSBC UK, and Barclays. The initial live tests involved a marketplace purchase alongside two remortgage completions, with funds automatically locked and disbursed once pre-set conditions were satisfied.
Additionally, analyst Ted Pillows highlighted several past collaborations on X. He drew attention to Quant’s integration with the MX.3 platform by Murex in March, as well as the European Central Bank (ECB) selecting Quant to assist in testing the digital euro.
As part of a 2025 announcement, Quant was confirmed as one of nearly 70 ECB pioneer partners. Pillows also noted that QNT has successfully broken out of a multi-year downtrend spanning five years, suggesting the asset could double from the roughly $187 price point observed during his post.
“If momentum continues, QNT could pull another 2x from its current level,” the analyst said.
Achieving a 2x increase would drive the altcoin toward $373, leaving it roughly 13% shy of its all-time high of $427.42, which was reached in September 2021.
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Frequently Asked Questions
Why did the price of Quant (QNT) spike?
QNT climbed 322% following two major announcements on September 24 linking its software to bank-led tokenized deposit networks in the US and the UK.
What is The Clearing House’s On-Chain Money Initiative?
Backed by major institutions like Bank of America, Citi, JPMorgan, and Wells Fargo, it is a planned shared network designed for financial institutions to clear and settle tokenized deposits 24/7. Quant was selected to provide its interoperability, orchestration, and transaction-management layer.
What role does Quant play in the UK’s tokenized deposit pilots?
Quant developed the shared platform used by the Great British Tokenised Deposit (GBTD) initiative, which successfully processed the UK’s first live customer transactions utilizing tokenized sterling deposits.
What is Quant’s all-time high?
QNT reached its all-time high of $427.42 in September 2021.
