Quant (QNT) token price surged 322% over the past week, reaching $257.69. The asset also recorded a 52% increase within a 24-hour period following announcements on September 24 regarding the integration of Quant software into banking networks in the US and UK.
The Clearing House, a network owned by 25 major US banks including JPMorgan, Citi, Bank of America, and Wells Fargo, selected Quant for its On-Chain Money Initiative. The project aims to create a shared network for clearing and settling tokenized deposits, with a planned launch for participating institutions in the first half of 2027.
Quant will provide the interoperability and transaction-management layer for the initiative, connecting the network to existing fiat rails like RTP and CHIPS. The Clearing House currently processes over $2 trillion in daily settlements across its existing infrastructure.
In the UK, the Great British Tokenised Deposit (GBTD) initiative, involving Barclays, HSBC UK, Lloyds Banking Group, and others, successfully conducted its first live customer transactions. These pilot transactions were executed on a platform developed by Quant to facilitate tokenized sterling deposits.
Quant has previously collaborated with Murex on the MX.3 platform and participated as one of nearly 70 partners in the European Central Bank's digital euro testing program. Analyst Ted Pillows noted that the token has exited a five-year downtrend, with potential for further price movement.
