@quantnetwork has released a whitepaper making the case that banks are leaving money on the table. A standard payment ledger records what moved and when, but says nothing about why a payment
@quantnetwork has released a whitepaper making the case that banks are leaving money on the table. A standard payment ledger records what moved and when, but says nothing about why a payment was made, what conditions governed it, or who approved it. Quant's argument is that embedding that context directly into tokenized deposits opens a new layer of value, and a new source of revenue, for banks willing to build on it.
The whitepaper lands alongside a significant real-world milestone. Seven of the UK's largest banks completed the world's first customer transactions using tokenized British pound deposits on a shared platform built by Quant. The trial included remortgage payments and a consumer purchase, testing whether regulated bank money can move between institutions and support retail payments.
Barclays, HSBC, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander took part in the Great British Tokenised Deposit initiative. UK Finance confirmed interbank transactions covering two real-world use cases: remortgage payments involving Lloyds, NatWest and Barclays, and a simulated online marketplace payment involving HSBC.
Tokenized deposits remain liabilities of issuing banks and retain conventional deposit protections, and the group will next test their use in settling digital assets. Gilbert Verdian, founder and CEO of Quant, framed the milestone in broader terms: "Tokenized deposits have the potential to play a key role in the evolution of digital money and payments in the U.K. and beyond."
Quant is also set to demonstrate a tokenized repo trade with Murex at @Sibos in Miami, bringing its programmable money infrastructure in front of the banking industry's most influential annual gathering. The demo, on the Discover Stage, involves a live repo against a tokenized bond running through Murex's MX.3 platform, with Quant deliberately interrupting the transaction mid-execution to show the system can roll back cleanly without creating an inconsistent settlement state.
The timing follows a broader expansion of Quant's institutional footprint. The Clearing House has picked Quant to power a new interoperable payments network that will enable US financial institutions of all sizes to clear and settle tokenized deposit transactions. That layer coordinates clearing and settlement and connects to the RTP and CHIPS networks. The Clearing House's networks clear and settle more than $2 trillion each day, and the on-chain network is expected to become available to participating institutions in the first half of 2027.
Together, the whitepaper and these live deployments position $QNT's underlying network as core infrastructure for the next generation of bank payments, not just a pilot project.
Sources:Quant Network: Above the Ledger (whitepaper)Finextra: The Clearing House taps Quant for tokenised deposit networkCoinDesk: Major UK banks execute world's first interbank customer transactions using tokenized sterling deposits
