Quant Soars on Clearing House Partnership $QNT surged 30% in 24 hours to $241.83 on $1.54 billion in trading volume, extending a weekly gain of 262%. The catalyst was a headline-grabbing anno
$QNT surged 30% in 24 hours to $241.83 on $1.54 billion in trading volume, extending a weekly gain of 262%. The catalyst was a headline-grabbing announcement on Thursday: The Clearing House selected Quant, a provider of programmable money infrastructure, to power the On-Chain Money Initiative, a new interoperable payments network for US banks.
Quant will supply the interoperability, orchestration and transaction-management layer, linking the network to existing fiat rails like RTP and CHIPS. The initiative is designed to create new opportunities across corporate treasury, liquidity management, cross-border payments and digital asset settlement. For banks without their own tokenized deposit capability, Quant has also been contracted to provide a commercial bank-side solution through its Tokenised Deposits-as-a-Service offering. The Clearing House's networks clear and settle more than $2 trillion each day, putting the partnership at the core of the US banking system.
The network is expected to become available to participating institutions in the first half of 2027, with additional details on participation and use cases to be announced as development progresses.
$HBAR was not far behind, climbing 26% to $0.1202 over the same 24-hour window. Its daily volume jumped more than 14-fold to $1.18 billion, lifting its market cap to $5.26 billion. The primary catalyst was a September 23 announcement from Switzerland's Hashgraph Group, which said its IDTrust identity platform, built on Hedera, had been validated by IBM and listed in the IBM Cloud Catalog. The Hashgraph Group also received IBM Silver Partner status and signed a global Embedded Solution Agreement covering IBM Cloud and AI technology, giving Hedera a commercial connection to one of the world's largest enterprise technology ecosystems.
Together, the two tokens stood out as the top performers among the 100 largest cryptocurrencies on an otherwise difficult day for the market. Bitcoin fell 1.7% and the total crypto market cap slipped 1.7% to $2.86 trillion, per CoinMarketCap data.
Sources:The Clearing House: On-Chain Money Initiative announcementThe Clearing House Partners with Quant to Advance the On-Chain Money Initiative (PR Newswire)The Clearing House Selects Quant for Tokenized Deposit Interoperability (Ledger Insights)
