QNT token recorded a sharp rally after The Clearing House selected Quant to support a new tokenized payments network for financial institutions. TradingView data showed QNT climbing from nearly USD 60 - USD 70 last week to an intraday peak above USD 350 before retreating.
The rapid advance brought QNT closer to its 2021 all-time high of USD 427.42. Still, the token gave back part of those gains as profit-taking emerged following the steep move.
The rally followed news surrounding The Clearing House’s On Chain Money Initiative. The project aims to connect tokenized commercial bank deposits with existing payment infrastructure while enabling faster and programmable settlement.
The Clearing House selected Quant to provide interoperability, transaction management and orchestration for the On Chain Money network. Quant will also help connect the platform with existing payment systems.
Those systems include RTP and CHIPS, which already form part of the wider US payments infrastructure. The Clearing House expects participating financial institutions to gain access to the initiative during the first half of 2027.
The Clearing House operates payment networks that clear and settle more than USD 2 trillion each day. Its services cover wire transfers, ACH payments, check images, and real-time payments.
The new initiative aims to connect traditional payment rails with tokenized commercial bank money. It also seeks to support automated transactions and continuous settlement.
Quant CEO Gilbert Verdian described the selection as a major development for programmable money. He said tokenized deposits let banks move money on-chain while keeping those deposits inside the regulated banking system.
The announcement became the central catalyst behind QNT’s latest price rally. By September 26, QNT had already gained 61.8% over seven days and traded near USD 104.57.
The move then accelerated over the following two days. QNT climbed far above USD 300 before traders began locking in gains.
Quant’s role in the US initiative follows another banking project in Britain. Major UK banks recently completed live customer transactions using tokenized sterling deposits on infrastructure developed by Quant. Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander participated in the Great British Tokenized Deposit initiative.
The tests moved beyond earlier simulations and included live transactions between customers at separate banks. Lloyds, NatWest and Barclays completed two remortgage transactions during the latest testing phase.
Another test involving HSBC explored an online marketplace payment. Funds remained reserved until predetermined transaction conditions were satisfied. Together, the US and UK projects place Quant within two institutional programs exploring blockchain-based commercial bank deposits.
The developments also connect Quant with broader efforts involving tokenization, banking settlement, and programmable financial transactions. The banking projects involve Quant’s technology, although adoption of its infrastructure does not automatically translate into higher QNT demand.
Therefore, the technology’s institutional use and the token’s economics remain separate factors for market participants to assess.
Before the latest breakout, QNT spent several months trading within a relatively narrow range between approximately USD 60 and USD 80. Its 200-day moving average stood near USD 69.40, placing the earlier trading range close to the token’s longer-term technical trend.
QNT then broke above the USD 70 - USD 80 region before advancing beyond USD 100. From there, the rally accelerated sharply through USD 120, USD 150 and USD 170. The price later reached around USD 194 during the earlier stage of the surge before expanding much further. TradingView data subsequently showed an intraday peak above USD 350.
That move left QNT trading far above its 200-day moving average. It also created a wide gap between current prices and the technical structure formed during previous months. There remains little recent trading activity between approximately USD 100 and the upper levels reached during the latest rally.
As a result, the chart contains fewer recent price zones where buyers previously built positions. That leaves less established structure available during sharp pullbacks. QNT nevertheless remains within reach of its 2021 all-time high of USD 427.42 if buyers regain control above the latest resistance area.