The Clearing House selects Quant for tokenized deposit network, QNT utility remains unclear

The Clearing House, a US bank-owned payments operator, has selected Quant to provide software for its upcoming tokenized bank deposit network. While Quant will manage transaction orchestration and connectivity to existing payment systems like RTP and CHIPS, the role of its QNT utility token in this initiative remains unconfirmed. The network is expected to launch for participating institutions in the first half of 2027, though no specific banks have been named as subscribers to the service. QNT experienced significant price volatility following the announcement, reaching a high of $373 on September 27 before dropping to $195.35 on September 28.