The Clearing House has selected blockchain infrastructure provider Quant to support its On-Chain Money Initiative, an interoperable payments network designed to enable the clearing and settlement of tokenized deposits between financial institutions.
Under the partnership, Quant will provide the interoperability, orchestration, and transaction-management technology behind the network. The infrastructure is designed to coordinate tokenized deposit transactions while connecting them with established U.S. payment systems, including The Clearing House’s RTP and CHIPS networks.
The initiative aims to allow banks to move regulated commercial bank money on-chain while maintaining connectivity with existing fiat payment infrastructure. Tokenized deposits are digital representations of deposits held at regulated financial institutions, retaining the regulatory characteristics of traditional bank deposits while enabling greater programmability and automation.
According to The Clearing House, the network could support faster settlement, automated payments based on predefined conditions, and around-the-clock liquidity movement. Potential applications include corporate treasury operations, liquidity management, cross-border payments, and digital asset settlement.
The broader On-Chain Money Initiative was first announced in June 2026 with support from major financial institutions. Its goal is to establish common infrastructure through which banks can clear and settle tokenized commercial bank money, rather than relying on separate blockchain systems developed by individual institutions.
Quant will also provide tokenized-deposit infrastructure for financial institutions using The Clearing House that do not yet operate their own tokenized deposit capabilities.
The network is expected to become available to participating financial institutions during the first half of 2027, with additional details on participation, implementation, and use cases expected as development progresses.
