The Clearing House has selected Quant to provide the interoperability and transaction-management layer for its On-Chain Money Initiative. The planned network will allow financial institutions to clear and settle tokenized deposits (digital tokens representing bank deposit claims) while connecting them to existing RTP and CHIPS payment rails. The Clearing House’s networks process more than $2 trillion daily across wire transfers, ACH, checks and real-time payments. Unlike a public stablecoin, a tokenized deposit remains a liability of the issuing bank; blockchain changes how the claim can be recorded, programmed and transferred without removing the underlying banking relationship. First announced in June, the initiative could support corporate treasury, liquidity management, cross-border payments and digital-asset settlement, including payments that execute automatically when agreed conditions are met. Participating institutions are expected to gain access in the first half of 2027, so the project remains infrastructure under development rather than a live consumer payment network. The Clearing House’s stated objective would allow banks to combine existing payment infrastructure with programmable on-chain money. The article was written by the News Desk and edited by Samuel Rae.