Same-Day Announcements From Two Continents
Quant Network landed two major bank partnerships on September 24. The Clearing House, owned by 25 U.S. banks including JPMorgan and Citi, selected Quant to power its tokenized deposit network. On the same day, seven U.K. banks announced they had completed live customer transactions on Quant's platform.
The timing raised eyebrows. Two separate bank consortiums, one in the U.S. and one in the U.K., revealed Quant deals within hours of each other. QNT rallied 322% over the week that followed, climbing to $257.69 before settling back.
The U.K. Is Already Processing Transactions
Barclays, HSBC, Lloyds, Monzo, Nationwide, NatWest, and Santander executed what they called the world's first customer transactions using tokenized British pound deposits. These were not pilot tests. The banks moved real money for real customers across Quant's interoperability layer.
The U.K. group started as a pilot in September 2025. A year later, they went live. Canada's banking regulator ruled in September that tokenized deposits are just deposits under existing law, clearing a path for similar moves in other jurisdictions.
The U.S. Network Launches in 2027
The Clearing House announced its On-Chain Money Initiative in June 2026. The network will clear and settle more than $2 trillion in daily transactions once it goes live. Quant will provide the interoperability, orchestration, and transaction-management layer that connects tokenized deposits to legacy systems like RTP and CHIPS.
Launch is set for the first half of 2027. That puts the U.S. rollout at least nine months behind the U.K.'s live network. The Clearing House move follows JPMorgan's work with Ondo Finance on tokenized treasuries, which settled earlier this year.
The Rally That Still Sits Below the 2021 Peak
QNT climbed 322% in the week following the announcements, a gain fueled by the institutional backing and the scale of the networks involved. But the token topped out at $257.69, still 40% below its all-time high of $427.42 from September 2021.
The market priced in the Clearing House deal and the U.K. execution in a matter of days. Whether the rally holds depends on whether the promised 2027 launch date arrives on schedule and whether other bank groups follow. Institutional infrastructure plays tend to move in waves, and this one just showed coordination across two continents on the same day.