TCH and Quant Partner to Power US Tokenized Deposit Network for Banks

The Clearing House has selected Quant to provide the infrastructure for its On-Chain Money Initiative, a move that brings programmable money into the core of the US banking system. This partnership allows financial institutions to clear and settle tokenized deposit transactions while maintaining connectivity to established fiat rails like the RTP and CHIPS networks.

What was announced

The Clearing House (TCH) has appointed Quant, a specialist in programmable money infrastructure, to power the orchestration and transaction-management layer of its new On-Chain Money Initiative. This interoperable payments network is designed to enable financial institutions of all sizes to clear and settle tokenized deposit transactions. These digital representations of traditional deposits retain the regulatory oversight and protections of standard bank deposits but are recorded and moved using blockchain-based technology.

The initiative aims to meet the increasing demand from corporate and financial sectors for greater automation and speed in liquidity management. By using Quant’s technology, the network will support payments that settle immediately and transactions that trigger automatically once specific, pre-agreed conditions are met. This functionality is intended to reduce the manual intervention and delays often associated with traditional interbank transfers. Crucially, the system provides a bridge to existing fiat payment systems, ensuring that institutions can transition toward on-chain capabilities without abandoning the RTP® and CHIPS® networks they currently utilize.

The On-Chain Money Initiative was first announced in June and focuses on several key areas of modern finance, including corporate treasury, cross-border payments, and the settlement of digital assets. The network is expected to become available to participating financial institutions in the first half of 2027. Further details regarding specific use cases and participation requirements are slated for release as development continues.

"This marks a defining step in the global transition to programmable money. Tokenized deposits are now the de facto way banks move money on-chain and The Clearing House sits at the heart of the US banking system, meaning this partnership sets a standard for the rest of the world to follow. Quant is uniquely positioned to lead this transition. We’ve been building the technology that connects blockchain networks and regulated financial institutions since the earliest days of this industry. Together with The Clearing House, we’re changing how money works in America, and laying the foundation for programmable money that moves seamlessly across the financial system."

Gilbert Verdian, Founder and Chief Executive Officer of Quant.

The companies involved

The Clearing House (TCH) is a critical pillar of the United States financial system, owned by the world's largest commercial banks. It operates several of the nation's most vital payment networks, including the CHIPS network for high-value domestic and international payments and the RTP network, which provides real-time payment capabilities. TCH has a long-standing reputation for building and maintaining the trusted infrastructure that facilitates the movement of trillions of dollars daily between financial institutions.

Quant is a provider of programmable money infrastructure that specializes in the interoperability of blockchain networks. The company has a history of delivering on-chain capabilities within highly regulated environments, having previously worked with both central and commercial banks in the United Kingdom and other international markets. Quant’s technology is designed to allow regulated institutions to adopt distributed ledger technology (DLT) without compromising on security or compliance. Sal Karakaplan, the Chief Strategy Officer of The Clearing House, noted that Quant’s expertise is essential for providing a scalable path for banks of all sizes to participate in the new on-chain ecosystem.

What FF News has reported before

FF News has closely monitored the evolution of tokenized deposits and real-time payment adoption. In September 2026, we reported that UK Banks Execute First Live Retail Transactions Using Tokenised Sterling Deposits, a milestone that demonstrated the practical application of the technology Quant is now bringing to the US. We also covered technical advancements in the RTP ecosystem, such as when Finzly Achieved RTP Network Certification for Request for Payment to drive instant pay-by-bank adoption. Additionally, the industry's focus on education and implementation has been evident through initiatives like Alacriti’s Nationwide Payments Masterclass Roadshow. Our coverage of real-time business payments also includes the launch of Dream Payouts with J.P. Morgan, highlighting the growing momentum for immediate settlement solutions.

What this means

This announcement moves the needle for the US banking sector by signaling that tokenized deposits, rather than stablecoins or retail CBDCs, are the preferred path for institutional on-chain finance. By embedding this technology into The Clearing House—the very core of US interbank settlement—the industry is effectively standardizing programmable money. This puts significant pressure on legacy core banking providers to ensure their systems can interface with these new orchestration layers. The primary question remains whether smaller regional banks can overcome the technical hurdles required to join this shared network by 2027, or if the digital divide between the largest institutions and the rest of the market will widen.