OKX officially opened trading for QUANT/USDT perpetual futures contracts with up to 50x leverage at 8:00 UTC on October 1, 2026. The crypto exchange rolled out the new trading interface across web, mobile app, and API right after its underlying asset, QNT, surged 178% over the past week.
At its peak, QNT briefly rallied over 300% from its late September lows. The asset is currently trading around $249, facing daily correction pressure of 16%. With a circulating supply of roughly 15 million tokens, QNT’s market capitalization sits at $3.62 billion, ranking 34th on CoinGecko.
Building Out $2 Trillion Clearing Infrastructure
The primary catalyst behind QNT’s rally stems from an announcement by The Clearing House on September 24, 2026. The U.S. payment infrastructure operator selected Quant as the provider of interoperability, orchestration, and transaction management layers for its On-Chain Money Initiative.
The On-Chain Money Initiative network is specifically designed to handle the clearing and settlement of tokenized commercial bank deposits. Quant’s most critical role lies in integrating the clearing ecosystem with The Clearing House’s RTP and CHIPS payment networks. These two settlement infrastructures currently process more than $2 trillion in daily transaction volume.
The specific roster of financial institutions participating in the new project has not yet been disclosed. Access for participant entities is slated to open in the first half of 2027. Quant CEO Gilbert Verdian described his company’s involvement in the U.S. initiative as a tangible step toward delivering fully programmable commercial bank money.
Live Demonstration Across Seven UK Banks
QNT’s expansion into the U.S. banking sector coincided with a showcase of Quant’s platform in the UK on the same day. Seven banking institutions - Barclays, HSBC UK, Lloyds, Monzo, Nationwide, NatWest, and Santander - jointly completed live customer transaction settlements. The retail banking consortium moved value using tokenized sterling deposits settled entirely over Quant’s network rails.
The institutional adoption momentum spanning both continents swiftly triggered derivatives offerings in the crypto market. For its contract launch, OKX utilized the QUANT/USDT index as the benchmark price reference, with a contract face value of 0.01 QNT. The exchange scheduled funding fee settlements every four hours, with the payment window adjustable to every hour should trading volume cross specified thresholds.
Reported via crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
