The Clearing House Picks Quant For US Tokenized Deposit Network
The Clearing House has selected Quant for its On-Chain Money Initiative, a project to bring tokenized deposits into core U.S. banking infrastructure. The network is designed to connect tokenized bank deposits with existing fiat payment rails, including RTP and CHIPS, rather than replace them. Unlike stablecoins, tokenized deposits remain liabilities of the issuing bank, with blockchain used to record, program, and transfer those claims more efficiently. The initiative could support corporate treasury operations, liquidity management, cross-border payments, and digital-asset settlement, with programmable payments that execute when set conditions are met. Access for participating institutions is expected in the first half of 2027, so the project is still in development. If successful, it could merge traditional payment systems with programmable onchain money in a single banking stack.
