Crypto · The Breakdown · QNT
Built For Banks.
Priced By Everyone Else.
The bull case for Quant as the people who hold it actually make it, and the case against at the same weight, starting with what the token actually does.
Quant is a company, founded in 2015 by Gilbert Verdian, that builds Overledger, software for connecting banks and institutions to many blockchains at once. QNT is its token: enterprise licence fees are paid in QNT and locked for twelve months. The supply is fixed at about 14.6 million, almost all of it circulating.
Fixed Supply
About 14.54 million circulating on 21 Sep 2026. Source: CoinGecko.
Blockchains In Fusion
Live on 2 June 2026. Source: Disruption Banking.
Raised In 2018
Token sale, April 2018. Source: Kraken.
Below The 2021 High
$427.42 on 11 Sep 2021, $65.33 on 21 Sep 2026. Source: CoinGecko.
The Bull Case, As Bulls Make It
Five arguments, stated at their strongest. This is the case the people who hold it make, not a forecast from this site.
Built For The Institutions
Overledger is sold to banks and financial institutions, not to retail traders. Quant has been involved in the Great British Tokenised Deposit work with UK banks. Bulls argue the customers most likely to move serious money onchain are the ones it already sells to. Source: Disruption Banking.
Almost No Supply Left To Come
The maximum is about 14.6 million and about 14.54 million already circulates. There is no unlock schedule waiting to sell into the market. Source: CoinGecko.
Licences Lock The Token
Overledger licence fees are priced in fiat but paid in QNT, and those tokens are locked in the Quant Treasury for twelve months. Bulls argue every new customer removes supply. Source: KuCoin.
Fusion Is Live
Overledger Fusion went live on 2 June 2026, connecting 74 blockchains under one layer with a single master version of each token. Source: Disruption Banking.
A Founder From The Rooms That Matter
Gilbert Verdian chaired the UK blockchain standards committee and advised on the Bank of England’s digital pound discussions. Bulls read that as a company built by people regulators already know. Source: Kraken.
The Case Against, At The Same Weight
The other half. If you skip it you are reading an advertisement.
The Business And The Token Are Different Things
Quant is a private company. Its customers pay licence fees, but holding QNT is not owning a share of Quant, and nothing obliges the company’s success to reach the token.
Enterprise Deals Are Slow And Quiet
Banks buy slowly and rarely publish what they pay. Most of the bull case rests on adoption that holders cannot see or measure from outside.
Locked Is Not Burned
Licence tokens are locked for twelve months, then released. A year of lock up delays supply rather than removing it. Source: KuCoin.
Five Years Below The High
It was about 84.7 per cent below the September 2021 high on 21 September 2026. Five years of institutional progress has not brought the price back. Source: CoinGecko.
Interoperability Has Rivals
Every large chain and several well funded companies are building their own ways to connect blockchains. Being early to a problem does not guarantee owning the answer.
What I Take From It
Not advice. How the argument reads to someone who builds businesses rather than trades tokens.
Sell To Whoever Has The Budget
Quant picked the customers with the largest budgets and the slowest decisions. It is a sound business choice and a hard one to hold a token through.
Know What You Actually Own
A token beside a good company is not equity in that company. Before anything else, find out what the thing you hold entitles you to.
Invisible Revenue Is Hard To Price
If the market cannot see the contracts, it prices the story instead. Public proof of revenue is worth more than private progress.
Prices, market caps, supplies, all time highs and all time lows from CoinGecko, read 3 September 2026. Solana issuance and burn figures from Solana Compass, SIMD-0550 from crypto.news, Alpenglow from Kiln, BSOL from CryptoBriefing. Sui architecture and history from Sygnum Bank, the Mysticeti v2 figures from the Sui blog, the unlock schedule from Tokenomist. Zcash halving schedule from CoinDataFlow, the shielded pool and the Ironwood upgrade from Phemex, the Orchard bug from KuCoin, the NU7 vote from CryptoSlate. Render tokenomics from the Render Network knowledge base, RNP-006 and RNP-018, and from RenderCon 2026 coverage. Jupiter protocol figures from DefiLlama, the net zero emissions vote from SolanaFloor, the Litterbox Trust and the 70% proposal from the Jupiter Research forum. Chain level TVL, stablecoin and fee figures from DefiLlama. A snapshot on one day, not a live feed, and not a price prediction.
The Positions I Actually Hold
This page is covered, not held. These are, and they get the same treatment: both cases at the same weight, every figure sourced and dated.
Solana · SOL
The bull case at its strongest.
Sui · SUI
The bull case at its strongest.
Zcash · ZEC
The bull case at its strongest.
Render · RENDER
The bull case at its strongest.
Jupiter · JUP
The bull case at its strongest.
Bitcoin · BTC
Twenty one million, the halving schedule to April 2028, and the five strongest arguments against it.
Common Questions
That Overledger is sold to banks and institutions; that the supply is fixed at about 14.6 million and almost all circulating; that licence fees are paid in QNT and locked for twelve months; and that Overledger Fusion went live on 2 June 2026 across 74 blockchains.
Overledger licence fees are priced in fiat but paid in QNT, and the tokens are locked in the Quant Treasury for twelve months. Source: KuCoin.
Gilbert Verdian founded Quant in 2015. Colin Paterson and Paolo Tasca joined as co-founders in 2017. Source: Kraken.
A fixed maximum of about 14.6 million, with about 14.54 million circulating on 21 September 2026. Source: CoinGecko.
No. Cody Wise is not a licensed advisor and does not hold QNT. This page sets out both sides of the argument with every figure sourced.
A Thesis You Cannot
Argue Against Is Not One.
Every position on this site is published with the reasoning and the counter argument attached. That is the whole standard.
Not financial advice.