The Clearing House announced the selection of Quant, a leading provider of programmable money infrastructure, to power its On-Chain Money Initiative, a new interoperable payments network that will enable financial institutions of all sizes to clear and settle tokenized deposit transactions.

Quant's technology will enable the network's interoperability, orchestration, and transaction-management layer that coordinates the clearing and settlement of tokenized deposit transactions, while providing connectivity to existing fiat payment systems that financial institutions and their customers use every day, including the RTP® and CHIPS® networks.

Announced in June, the On-Chain Money Initiative responds to growing demand from businesses and financial institutions for greater speed, automation, and flexibility in how money moves. It aims to enable payments that settle immediately and transactions that trigger automatically once agreed conditions are met, reducing manual work and delays for banks and their customers. Quant has a proven track record of delivering on-chain capabilities in production and at scale. Its technology has already been deployed in regulated environments, working with central and commercial banks in the UK and around the world.

"Building interbank infrastructure for tokenized deposits requires proven technology that can scale," said Sal Karakaplan, Chief Strategy Officer of The Clearing House. "The Clearing House has a long history of building and operating trusted payment networks that serve the banking industry. Quant brings the technology and expertise needed to support the network, giving financial institutions of all sizes a path to participate."

"This marks a defining step in the global transition to programmable money," said Gilbert Verdian, Founder and Chief Executive Officer of Quant. "Tokenized deposits are now the de facto way banks move money on-chain, and The Clearing House sits at the heart of the U.S. 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."

Tokenized deposits are digital representations of a financial institution deposits, which retain the protections and regulatory oversight of a traditional deposit, but are recorded and moved differently. Tokenized deposits move automatically within rules institutions set in advance. For businesses, this means liquidity and payments processed around the clock. For financial institutions, it means joining a shared network rather than building one alone.

The On-Chain Money Initiative is designed to create new opportunities across corporate treasury, liquidity management, cross-border payments, and digital asset settlement. 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.