Quant (QNT) has climbed 322% over the past week to $ 257.69. It also gained 52% in 24 hours, ranking among the top daily gainers.
The gains followed a pair of announcements on September 24. Both tied Quant’s software to bank-led tokenized deposit networks in the US and UK.
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The Clearing House Brings Quant Into US Bank Plumbing
The Clearing House, owned by 25 of the largest US banks, selected Quant to power its On-Chain Money Initiative. It unveiled the initiative in June with backing from Bank of America, Citi, JPMorgan, and Wells Fargo.
This is a planned shared network for clearing and settling tokenized deposits between financial institutions around the clock. Tokenized deposits are digital versions of bank deposits that keep the same protections and oversight as ordinary deposits.
Quant will provide the network’s interoperability, orchestration, and transaction-management layer. Its technology will also link the network to existing fiat rails, including RTP and CHIPS.
The Clearing House expects the network to open to participating institutions in the first half of 2027. Its existing networks already settle over $2 trillion a day.
Quant founder and CEO Gilbert Verdian framed the deal in global terms.
“Tokenized deposits are now the de facto way banks move money on-chain, and The Clearing House sits at the heart of the U.S. banking system, meaning this partnership sets a standard for the rest of the world to follow,” Verdian said.
London Added a Second Headline the Same Day
UK Finance announced the same day what it called the first live customer transactions using tokenized sterling deposits. The pilots ran on a shared platform that Quant developed for the Great British Tokenised Deposit (GBTD) initiative.
The initiative includes Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest, and Santander. The first transactions covered two remortgage completions and a marketplace purchase. In each, funds were locked and released automatically once conditions were met.
Meanwhile, analyst Ted Pillows also pointed to earlier partnerships on X. These include Quant’s March integration with Murex’s MX.3 platform. He also noted the European Central Bank (ECB) had picked Quant to help test the digital euro.
Quant’s 2025 announcement shows it was one of almost 70 ECB pioneer partners. Pillows added that QNT has broken out of a five-year downtrend. He said it could double from about $187, its price when he posted.
“If momentum continues, QNT could pull another 2x from its current level,” the analyst said.
That would put the altcoin near $373, still about 13% below its $427.42 all-time high from September 2021.
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The post Why Is Quant (QNT) Up 322%? JPMorgan, Citi and Barclays Have the Answer appeared first on BeInCrypto.
