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The Clearing House (<a href="https://x.com/TCHtweets" rel="noopener noreferrer nofollow">@TCHtweets</a>) has selected <a href="https://x.com/quantnetwork" rel="noopener noreferrer nofollow">@quantnetwork</a>, a provider of programmable money infrastructure, to power its On-Chain Money Initiative. The initiative involves a new interoperable payments network that will enable financial institutions of all sizes to clear and settle tokenized deposit transactions.
Unveiled in June, the On-Chain Money Initiative is backed by a host of Wall Street giants, including Bank of America, Citi, JPMorgan and Wells Fargo. The initiative will be operated by The Clearing House, a U.S.-based payments company owned by 25 of the nation's largest financial institutions.
<h2 id="what-quant-will-do">What Quant Will Do</h2>
Quant's technology will enable the network's interoperability, orchestration, and transaction-management layer that coordinates the clearing and settlement of tokenized deposit transactions, while providing connectivity to existing fiat payment systems that financial institutions and their customers use every day, including the RTP and CHIPS networks.
CHIPS is the largest private sector USD clearing and settlement network in the world for high-value wire payments, while RTP is a 24/7/365 instant-payments scheme built on the ISO 20022 messaging standard, supporting immediate credit-push transfers with final settlement. Connecting a tokenized deposit network to both rails puts blockchain-based settlement directly alongside the infrastructure that underpins the bulk of U.S. dollar payments today.
The initiative aims to enable payments that settle immediately, transactions that trigger automatically when agreed conditions are met, and reductions in manual work and delays for banks and their customers.
<h2 id="tokenized-deposits-explained">Tokenized Deposits Explained</h2>
Tokenized deposits are digital representations of a financial institution's deposits that retain the protections and regulatory oversight of a traditional deposit, but are recorded and moved differently, and can move automatically within rules that institutions set in advance. For businesses, this means liquidity and payments processed around the clock.
A deposit tokenized at one institution has historically struggled to interact with a deposit tokenized at another. The initiative's goal is a shared settlement layer that all 25 institutions can use together.
The Clearing House chose <a href="https://x.com/quantnetwork" rel="noopener noreferrer nofollow">@quantnetwork</a> through a competitive process to fill that coordination role. Quant specializes in programmable money infrastructure rather than issuing tokens itself. Its role here is coordination, not custody or issuance.
The Clearing House expects to make the On-Chain Money Initiative available to participating institutions in the first half of 2027.
Sources: <a href="https://www.prnewswire.com/news-releases/the-clearing-house-partners-with-quant-to-advance-the-on-chain-money-initiative-302888598.html" rel="noopener noreferrer nofollow">The Clearing House Partners with Quant to Advance the On-Chain Money Initiative (PR Newswire)</a> <a href="https://www.pymnts.com/blockchain/2026/the-clearing-house-taps-quant-to-power-tokenized-deposits-network" rel="noopener noreferrer nofollow">The Clearing House Taps Quant to Power Tokenized Deposits Network (PYMNTS)</a> <a href="https://www.finextra.com/newsarticle/48465/the-clearing-house-taps-quant-for-tokenised-deposit-network" rel="noopener noreferrer nofollow">The Clearing House Taps Quant for Tokenised Deposit Network (Finextra)</a>

Quant secures a key role in US bank payments

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