The Clearing House selected Quant on Sept. 24 to provide software for a planned network that will let U.S. banks clear and settle tokenized commercial-bank deposits between institutions. The initiative, announced in June, is intended to connect on-chain bank money with established fiat payment systems, including RTP and CHIPS, and support immediate settlement and condition-triggered payments. Quant will provide the connectivity, orchestration and transaction-management layer, as well as Tokenized Deposits-as-a-Service for institutions using The Clearing House that lack their own capability. The network is expected to become available in the first half of 2027, but the announcements do not identify subscribing banks, a live rollout, transaction volumes or service revenue. QNT reached an intraday high of $373 on Sept. 27 before falling to $195.35 on Sept. 28 and rebounding. Neither company has said that banks must acquire, hold, spend or lock up QNT, leaving the link between the project and future token demand unresolved.