The Clearing House Picks Quant for Tokenized-Deposit Payment Network
The planned system will connect tokenized deposits with RTP and CHIPS networks and is expected to open to financial institutions in the first half of 2027.
The Clearing House has selected Quant to build core technology for a payment network designed to clear and settle tokenized deposits, linking digital bank funds with established payment infrastructure.
Quant will supply the system’s interoperability, coordination and transaction-management layers. Those components are intended to coordinate clearing and settlement while connecting tokenized deposits with payment channels used by financial institutions and their customers, including the RTP and CHIPS networks.
Tokenized deposits digitize funds held at commercial banks while maintaining conventional deposit protections. The structure is intended to bring digital processing to bank money without turning the deposits into a separate crypto asset.
The initiative expands Quant’s work in tokenized-deposit payments. Its infrastructure supported live customer transactions by U.K. banks through the GBTD initiative, including a marketplace purchase in which funds remained locked until the goods changed hands. TokenPost previously covered the first live tokenized-deposit customer transactions.
The Clearing House plans to make the network available to financial institutions in the first half of 2027.
