The Clearing House taps Quant for tokenised deposit network
The Clearing House has picked UK-based programmable money infrastructure provider Quant to power a new interoperable payments network that will enable US financial institutions of all sizes to clear and settle tokenised deposit transactions.
The Clearing House has announced a partnership with Quant, a provider of programmable money infrastructure, to develop an interoperable payments network for tokenized deposits. This initiative, known as the On-Chain Money Initiative, aims to enable financial institutions of all sizes to clear and settle tokenized deposit transactions quickly and automatically.
Quant's technology will provide connectivity to existing fiat payment systems and enable the network's transaction-management layer. The Clearing House Chief Strategy Officer Sal Karakaplan emphasized the company's long history of building trusted payment networks, while Quant Founder and CEO Gilbert Verdian stated that this partnership is a significant step in the global transition to programmable money.
The Clearing House expects to make the initiative available to participating institutions in the first half of 2027, with the potential for widespread adoption of tokenized deposits.
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