Quant surges 300% after winning tokenized deposit deals with major US and UK banks

Quant's utility token, QNT, surged over 300% to an intraday high of $373 following major announcements on September 24, 2026. The US payments operator The Clearing House selected Quant to power its upcoming On-Chain Money Initiative, scheduled for 2027. Simultaneously, seven major UK banks completed live pilot transactions using tokenized sterling on Quant's platform. Despite the rally, analysts highlight that the agreements do not explicitly require participating banks to hold or use the QNT token, leaving the direct link to token demand unresolved.

QNT price surge and market activity

• ▪Quant's utility token, QNT, surged over 300% in a week from around $64 to $373 on September 27, 2026, before retracing to $195.35 on September 28, 2026, and rebounding to trade around $258 to $260
• ▪The daily Relative Strength Index for QNT reached approximately 86 on September 28, 2026, marking its highest and most stretched level on the five-year chart
• ▪QNT's price rally of more than 300% over the past week was accompanied by a 24-hour trading volume jumping above $1 billion and approximately $17.2 million in short positions being liquidated over a 24-hour period

QNT support and resistance levels

• ▪If the QNT price rally cools off, the first key support levels are located in the $200 to $225 range, followed by the December 2024 high around $160 to $170
• ▪Traders and analysts identify QNT's $286 to $300 range as immediate resistance, with a decisive close above $300 needed to target QNT's September 2021 all-time high of $427.42 to $428

The Clearing House partnership in the US

• ▪The Clearing House, which is owned by 25 of the largest US banks including JPMorgan Chase, Bank of America, Citi, and Wells Fargo, expects its tokenized deposit network to go live in the first half of 2027
• ▪The Clearing House selected Quant on September 24, 2026 to supply software for its planned On-Chain Money Initiative, a network designed to clear and settle tokenized deposits for financial institutions

UK tokenized deposit pilot

• ▪Seven major UK banks, including Barclays, HSBC UK, Lloyds, NatWest, and Santander, completed live transactions using tokenized sterling deposits through a platform built by Quant for the Great British Tokenised Deposit initiative
• ▪The UK tokenized sterling deposit pilot transactions, announced by UK Finance on September 24, 2026, covered two remortgage completions and a marketplace purchase where funds were locked and released automatically once conditions were met
• ▪The UK tokenized sterling deposit pilot transactions announced by UK Finance were conducted as part of the Great British Tokenised Deposit initiative, which also includes Monzo and Nationwide

Debatable claims

• ▪The Clearing House's tokenized deposit network will successfully modernize US interbank payments
• ▪Quant's banking partnerships justify the massive surge in QNT's price
• ▪Tokenized bank deposits are a superior alternative to publicly issued stablecoins