Quant’s QNT token surged from a late-September base near $58–$59 to above $100 after two bank-focused milestones. The strongest move followed news that The Clearing House selected Quant for its On-Chain Money Initiative, with Quant acting as the interoperability, orchestration and transaction-management layer for tokenized deposits across 25 major US banks. The Clearing House already clears and settles more than $2 trillion in daily payments through existing rails such as RTP and CHIPS, and the new network is targeted for availability in the first half of 2027.
On the same day, UK Finance said Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander completed the first retail transactions using tokenized sterling deposits on a shared platform built by Quant. The live tests included two remortgage completions and a consumer marketplace payment. Funds were locked and automatically released when transaction conditions were met, showing programmable commercial-bank deposits rather than a separate crypto payment network. Quant’s post on X described the U.S. project as “an interoperability layer to handle tokenized deposits across 25 major US banks.”
The token initially jumped about 27% in one day to a year-to-date high near $95, then climbed above $100, up roughly 42% over 24 hours and 63% over seven days, according to market data. Derivatives activity also expanded: trading volume rose 20.9% to $39.11 million and open interest increased 11.95% to $18.93 million.
Technically, QNT trades above its 50-day, 100-day and 200-day exponential moving averages, but the daily RSI reached 81–84, signalling strong momentum and overbought conditions. Analysts flagged initial resistance around $104–$105, followed by $108–$111 and a longer-term triangle target near $130 if a breakout is confirmed. Key support sits at $88–$90, with deeper zones at $72–$76 and the 200-day average near $68–$69.
Still, the announcements do not disclose contract value, expected revenue, or whether bank usage directly creates demand for QNT. Participation, transaction volume and commercial scale remain unproven until the U.S. network launches and UK pilots expand. For now, the rally reflects tangible execution milestones, rising institutional interest in tokenized deposits and broad momentum in altcoins.
