The Clearing House Picks Quant For US Tokenized Deposit Network

The Clearing House has selected Quant to help develop a U.S. network for tokenized commercial-bank deposits. The initiative is intended to enable regulated financial institutions to issue and transact with digital representations of deposits while preserving the role of banks and existing payment infrastructure. For Bitcoin, the move signals growing institutional adoption of blockchain-based settlement, but also highlights competition from permissioned, bank-backed digital money that could reduce demand for Bitcoin in some payments use cases.