The Clearing House said on 24 September 2026 that it had selected Quant to power its On-Chain Money Initiative, a network on which financial institutions will clear and settle tokenized deposit transactions. Quant's technology will enable the network's interoperability, orchestration and transaction-management layer, which coordinates the clearing and settlement of those transactions. Quant's technology will also provide connectivity to existing fiat payment systems, including the RTP and CHIPS networks.
The initiative was announced on 5 June 2026 in a Clearing House release, which described a connectivity layer linking blockchain-based activity with established fiat rails such as RTP and CHIPS. That release listed 17 participant banks and did not name a technology provider.
The Clearing House expects the network to be available to participating institutions in the first half of 2027. It said details on participation and use cases will be announced as development progresses. The September release names no participating bank and does not identify the ledger the network will run on.