The Clearing House, the bank-owned operator of core US payment networks including RTP and CHIPS, has selected Quant, a provider of programmable money infrastructure, to power its On-Chain Money Initiative, a new interoperable network that will let financial institutions of all sizes clear and settle tokenized deposit transactions. Quant will provide the interoperability, orchestration, and transaction-management layer, connecting tokenized deposits to the fiat payment rails institutions already use; the initiative, announced in June and backed by major banks, is expected to become available to participating institutions in the first half of 2027. The main objective is to unlock new opportunities across corporate treasury, liquidity management, cross-border payments, and digital asset settlement, with tokenized deposits retaining existing regulatory protections while enabling automated, 24/7 movement of money. Key players include Quant founder and CEO Gilbert Verdian, who called the selection “a defining step in the global transition to programmable money,” and The Clearing House chief strategy officer Sal Karakaplan.

The Clearing House Partners with Quant to Advance the On-Chain Money Initiative