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JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins

The Clearing House has tapped blockchain firm Quant to build the interoperability and transaction-management layer for its On-Chain Money Initiative. The network, scheduled to launch in the first half of 2027, will allow 25 major US banks to clear and settle tokenized deposits while connecting to existing fiat payment rails.

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The Clearing House clears more than $2 trillion daily across the US financial system.From: The Clearing House Selects Quant to Power Tokenized Deposit Network for US Banks

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Key numbers

$7 billion
JPMorgan Kinexys daily volume
$263 billion
Stablecoins in circulation
2027
Target network launch

From: JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins

Charts, maps and images

The network layers programmable transaction logic on top of existing RTP and CHIPS systems.From: The Clearing House Selects Quant to Power Tokenized Deposit Network for US Banks ·
Quant's native token surged over 60% following the partnership announcement.From: The Clearing House Selects Quant to Power Tokenized Deposit Network for US Banks ·
How the shared tokenized deposit network will upgrade interbank transfers.From: JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins ·
The scale of the stablecoin market compared to current bank-led blockchain initiatives.From: JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins ·
Multinational corporations will be the first to test the new network's programmable treasury features.From: JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins ·

Timeline

September 2026

  1. The Clearing House Selects Quant to Power Tokenized Deposit Network for US Banks

July 2026

  1. JPMorgan and Three Major US Banks Launch Shared Deposit Token to Challenge Stablecoins