Quant Surges 322% After Deals With JPMorgan and Citi
Quant is benefiting from partnerships around tokenized deposits with The Clearing House, JPMorgan, and Citi. Live pilots are also underway in the U.K. with sterling deposits through banks like HSBC and Barclays.
Key Takeaways
- Quant (QNT) rose 322% in a week to $257.69 and gained another 52% in 24 hours.
- The rally followed announcements about partnerships with banking networks for tokenized deposits in the U.S. and the U.K.
- The Clearing House and UK Finance linked Quant to initiatives with major banks, including JPMorgan, Citi, Barclays, and HSBC.
Quant (QNT) rose 322% in a week to $257.69 (€226) and gained another 52% in 24 hours. That made the token one of the day’s biggest gainers. The rally followed two announcements on September 24 that linked Quant to banking networks for tokenized deposits in the U.S. and the U.K.
Deal With Major U.S. Banks
The Clearing House, which is owned by 25 of the largest U.S. banks, picked Quant to support its On-Chain Money Initiative. The initiative was announced in June with backing from Bank of America, Citi, JPMorgan, and Wells Fargo. It is a planned shared network for processing and settling tokenized deposits between financial institutions around the clock.
Tokenized deposits are digital versions of bank balances that keep the same protections and oversight as regular deposits. Quant provides the interoperability, orchestration, and transaction management layer in this network. The software also connects the system to existing fiat rails, including RTP and CHIPS. The Clearing House expects the network to open to participating institutions in the first half of 2027.
London Got News the Same Day
The U.K. also got news that same day. UK Finance reported the first live customer transactions with tokenized sterling deposits. Those pilots ran through a shared platform that Quant developed for the Great British Tokenised Deposit initiative. Participants included Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest, and Santander.
The first transactions involved two completed refinancing deals and one marketplace purchase. In both cases, funds were automatically locked and released once the conditions were met. That shows how tokenized deposits can work in practice within existing banking processes.
Why This Matters for Europe
For European crypto followers, the key point is that Quant is positioning itself at the intersection of banks and blockchain. The company builds software that connects traditional payment rails to tokenized assets, which makes it interesting for institutions that want to modernize existing systems without replacing everything. Analyst Ted Pillows also pointed to earlier partnerships, including the integration with Murex and Quant’s role in tests around the ECB’s digital euro.
Pillows also said QNT has broken out of a five-year downtrend. According to him, the token could still double from its then-current price of about $187 (€164). At a price of around $373 (€327), QNT would still remain below its all-time high of $427.42 (€375) from September 2021.
