Who is behind Quant? Gilbert Verdian and the years the company was called REMITT

A single person stands behind Quant and the QNT token: Gilbert Verdian, founder and chief executive of Quant Network Ltd in London. He spent some twenty years in cybersecurity, most recently as security chief at the operator of the United Kingdom's payment infrastructure, and has run his company since September 2015. Search for the Quant founder and you mostly find what the company writes about him. This article sets the British companies register alongside that account, and the two versions diverge in two places.

That matters if you hold QNT or are considering it. The token is tied to a software company with exactly one appointed director, and the price reacts to news about the banking mandates that company wins. On October 13, 2026, QNT traded at around $216, or about 193 euros, with a market capitalization of roughly $3.1 billion and rank 35 in the market. If you are putting that much money behind a corporate history, it is worth knowing which part of it can be verified in a public register and which part exists only in a company biography.

Who is behind Quant? The Quant founder in three sentences

Quant founder Gilbert Verdian, who as CEO also chairs the board, is a British citizen, lives in the United Kingdom and has been an appointed director since September 28, 2015 of the company now called Quant Network Ltd. Before Quant he was security chief at Vocalink, the Mastercard-owned operator of the British payment infrastructure, and before that he worked at the UK Treasury, at HSBC and at the health department of the Australian state of New South Wales. His firm sells software that lets banks settle payments across different blockchains, and the QNT token is the means of payment for the licence to that software.

Quant Network Ltd is a British limited company with registration number 09798383, registered at 20-22 Wenlock Road in London. The register lists three activities as its business purpose: software publishing, information technology consultancy and other information service activities. The company is active, and its latest annual accounts were filed for the period ending September 30, 2025.

Quant Network Ltd in the register: incorporated 2015, renamed 2017

The company was incorporated on September 28, 2015. That matches the entry in Verdian's own curriculum vitae, which gives 2015 as the founding year of Quant. The register holds something else, though, that appears in no company biography: the firm carried a different name until June 2, 2017. The registered name was REMITT LTD, and only after a good twenty months did it become QUANT NETWORK LTD.

A second entry in the register fits with that. Alongside Verdian, a second director was appointed on September 28, 2015: Sassoon Grigorian, an Australian citizen resident in Australia. He resigned on May 26, 2017. A week later the company name changed. Verdian has run the company as its sole appointed director ever since.

Both versions of the history hold up, they simply stress different things. The company has indeed existed since 2015, as the firm says. Under the Quant name and with today's product, however, it only appears from mid-2017, which is why some profiles date the start of Quant to 2018, when Verdian left Vocalink. Where you read that Quant has been "on the market since 2015", that refers to the legal entity and not the brand.

Twenty years in cybersecurity: from HM Treasury to HSBC and Vocalink

Verdian's career before Quant is unusual for a crypto founder because it ran almost entirely through government bodies and banks. His own biography lists some twenty years in cybersecurity with C-level responsibility as CISO, CIO and CTO, along with postings in Downing Street, the Cabinet Office, HM Treasury and the Ministry of Justice. His CV begins in 2001 at Computer Sciences Corporation, followed by Ernst & Young, the UK Treasury as head of security and deputy chief technology officer, HSBC, and the British Ministry of Justice as head of security. From 2013 to 2014 he was director of cybersecurity at PwC. Those two early government postings explain why a fintech founder later sits on standards bodies: he came out of the apparatus that sets the standards.

From 2014 to 2016 he worked in Australia as Chief Information Security Officer, the most senior security role, at the New South Wales health department. A CISO decides which technical and organizational safeguards an institution adopts and is internally accountable for them. From 2016 to 2018 he held the same role at Vocalink, the operator of British payment traffic that carries salaries, standing orders and real-time payments across the country. In 2017 he was named CISO of the year at the Cyber Security Awards. A press release from 2018 announced his move from Vocalink to Quant Network.

That route explains the product. Anyone who has been accountable for the security of a national payment infrastructure for years knows the problem Quant sells into: banks run many separate systems that do not talk to each other, and every new connection costs money and opens a new attack surface.

The ISO standard TC 307: company claim and committee entry side by side

One point is worth checking particularly closely. In Verdian's biography, Quant writes that he initiated the Blockchain ISO Standard TC307 initiative in 2015 and is convenor, that is to say head, of Working Group 7 for Interoperability. ISO is the International Organization for Standardization, TC 307 is its technical committee for blockchain and distributed ledger technologies, and a convenor leads a working group within a committee.

ISO's own committee page gives 2016 as the founding year of TC 307 and Standards Australia as the secretariat. WG 7 is listed there as the working group for interoperability, but no head is named for any of the working groups. The title therefore appears in the company biography and not in the public committee entry.

That is not necessarily a contradiction. An ISO committee is formed only after an application by a national standards body, and more than a year regularly passes between application and formation. An initiative in 2015 and a committee formed in 2016 can both stand. Nor does ISO's practice of not publishing the names of working group leads mean there are none. What holds up here is only this: the claim comes from Quant, not from ISO. What is documented, by contrast, is Verdian's chairmanship of the British national committee DLT/1, which he held from January 2017 to June 2021.

Overledger: the product that carries the licence fee

Overledger is the software Quant earns its money with. The program sits as an intermediary layer above several blockchains and lets a company write one application that works on different networks without building a separate connection for each. Our explainer What Quant (QNT) is and what Overledger does for banks sets out the technical structure in detail.

For the token, the pricing page is what counts. In December 2021 Quant announced an annual licence fee for Overledger of 100 pounds, payable in QNT. Existing customers were given three months free, which put the first due date at March 15, 2022. That was the basis for the argument that every new Overledger customer has to buy QNT and take it off the market.

That argument holds only partly today. Quant's current FAQ page names two routes: a customer can pay the platform fee in US dollars or take out a subscription in QNT. Where a customer pays in dollars, no demand for the token arises in the market. The company does not publish how much runs through which route. We have written up the details of the fee and the tightness of supply in What the QNT token is needed for.

Fusion Rollup: 74 networks, according to the company

In June 2026 Quant brought the Fusion Rollup to mainnet. A rollup is a layer above a blockchain that bundles many operations and writes them to the main blockchain in batches, which saves fees. Quant describes Fusion as an execution environment that, by the company's own account, connects 74 public and private networks.

The figure of 74 comes from the company itself. No independent count of these networks has been published, and none of the trade reports covering the launch recounted the list. Where you read this number as evidence of Quant's reach, a company statement sits behind it. The primary source does not say explicitly what role QNT plays within Fusion, so this point remains open.

The Clearing House: tokenized deposits from the first half of 2027

The most important event in the company's history is only weeks old. In late September 2026 The Clearing House selected the firm as technology partner for a network for tokenized deposits. The Clearing House is a settlement company owned by large US banks that carries a substantial share of American payment traffic. A tokenized deposit is commercial bank money recorded as an entry on a blockchain, so not a coin of its own but a claim against that bank.

Quant supplies the layer for orchestration and transaction management. The network is due to be available to participating institutions in the first half of 2027. According to trade media reports, the project is explicitly not designed as a shared token but as interoperability between the deposit platforms of individual banks. A second strand of the project, a dedicated layer-2 blockchain, still has neither a provider nor a date.

Our report on the award is in Quant and tokenized deposits. We set Quant's approach against that of its competitor Chainlink in Quant or Chainlink.

Murex and Sibos: a repo against tokenized US Treasuries

In parallel, Quant works with Murex, a French supplier of trading and risk software for the capital markets whose MX.3 platform runs the capital markets business from order to settlement at many banks and institutional investors. For the Sibos banking conference, which opened in Miami on September 28, 2026, both firms announced a demonstration of programmable settlement for tokenized assets. The example shown: a repo in US dollars against a tokenized US Treasury, with the cash leg running through tokenized deposits.

A repo is a short-term loan against securities as collateral, the standard instrument banks use to fund themselves overnight with each other. Quant describes the integration as giving Murex clients access through MX.3 to the issuance and settlement of tokenized deposits and digital bonds. A demonstration at a trade fair is not yet live operation with real volumes.

The 2018 token sale: eleven million dollars instead of forty

The QNT token reached its first holders in the spring of 2018 through a public sale. According to data from the aggregator Coincodex, the team raised around 11 million US dollars and sold just under 9.97 million QNT at about $1.10 each, at an exchange rate of 430 QNT per ether. The original target was more than 40 million dollars and was therefore missed by a wide margin. Accounts differ on the exact window: most entries name May 2018, a few a start as early as the beginning of April.

We did not find a primary source for the sale result, so the sum should be read as an approximation. The gap remains striking: a project that failed to raise even a third of its target in 2018 today holds a mandate from a US clearing institution.

What QNT costs today and how tight the supply is

On October 13, 2026, QNT traded at around 216 US dollars, or about 193 euros, after a fall of a good 5 percent within a day. Over twelve months it is up around 130 percent. Market capitalization stood at roughly 3.1 billion dollars, which corresponds to rank 35. The all-time high of $427.42 dates from September 11, 2021 and sits around 49 percent above today's price.

On supply, QNT genuinely is tight, and tighter than most large crypto assets. CoinGecko data puts around 14.56 million tokens in circulation against a maximum supply of 14,612,493 units. More than 99 percent of the possible supply has therefore been issued, so future dilution through new tokens is barely to be expected. One caution on the cap: depending on the data service, a figure of around 14.88 million also appears there, and the circulating amount is calculated differently too. The range is known, and a smoothed number here would be false precision.

A tight supply on its own carries no price. It only prevents new tokens from diluting it. What the demand side actually delivers hangs on the question from the Overledger section: how many customers pay the licence in QNT rather than in dollars.

QNT in Germany: which venues list a euro pair

For buying from Germany, what counts above all is whether a venue offers a direct euro pair. Without one, the purchase runs through an intermediate currency, usually a dollar stablecoin, and a fee falls due twice: once on the exchange from euros into the stablecoin, and once on the purchase of the token.

A look at the trading pairs of the large venues on October 13, 2026 shows a mixed picture. At Kraken, QNT trades against both the euro and the US dollar. At Bitvavo, a euro pair is running in normal trading status. At Coinbase, by contrast, QNT is available only against the US dollar and the stablecoin USDT; a euro pair is missing there. For holders of a euro account, the route through Coinbase therefore costs one detour more than the other two.

Check two things yourself before your first purchase, because both can change. First, whether the venue holds authorization under the EU's MiCA regulation, which has applied to crypto service providers in the EU since 2025. Second, what fee applies to small amounts, since percentage rates and minimum fees hit small purchases harder. Which providers are worth considering from a German perspective and what they cost is set out in our comparison of the best crypto exchanges.

Holding period and tax: what applies to QNT gains in Germany

QNT is treated for tax purposes like other crypto assets. Gains on a sale count as a private disposal under section 23 of the German Income Tax Act. The holding period is decisive: sell a token after holding it for more than a year and no income tax falls due on the gain. Within the first year, the gain is taxable at your personal rate, provided the total of all private disposal gains in a year exceeds the 1,000 euro threshold.

Two points are regularly overlooked. The holding period runs per acquisition, not per wallet, so every additional purchase starts a period of its own. And swapping QNT for another token counts as a sale, even where no euros land in your account. Buying across several venues therefore calls for a clean record of acquisition dates. Tools that take that over can be found among the crypto tax tools. What is binding in the end is always the view of your tax office or your tax adviser.

Our assessment: a documented mandate and an open revenue question

In our view, Quant's founder story carries more substance than that of most projects of this size, and at the same time it has a gap at exactly the point where money is at stake for holders. Three verifiable points speak for it. The British register confirms the company from September 28, 2015 with Verdian as a continuously appointed director. His path through HM Treasury, HSBC and Vocalink is documented through his CV and a press release from 2018. And the mandate from The Clearing House is not a letter of intent but an award with a target date in the first half of 2027.

Against that stands a number nobody knows. The press releases on the mandate do not name the QNT token, the licence fee can now also be paid in dollars, and at least fifteen months lie between today and the launch of the network. Whether and to what extent revenue from the banking business will be settled in QNT appears in no primary source. Buy the token because of this mandate and you are buying an expectation the company has not so far published evidence for. Add to that the usual risk: a total loss is possible with any crypto asset, and particularly worth weighing in a project whose product hangs on a single major client. None of this is a recommendation to buy in either direction.

Quant and QNT: licence revenue only starts flowing in 2027

The corporate history can be verified cleanly; the route from mandate to revenue cannot. Three steps help keep the two apart:

1. Separate product and token. Note down for yourself what is documented (the mandate, the target date in the first half of 2027, the existence of a licence fee) and what is open (the share of payments made in QNT). When a new report appears, look first at whether it fills the open column. For placing the competition, our comparison of trading venues and their fees helps.
2. Check the buying route before the amount. A direct euro pair saves you one exchange fee. Look too at whether your provider holds MiCA authorization before money moves; an overview is available under MiCA-regulated crypto exchanges.
3. Document every purchase the same day. Date, quantity and price per acquisition decide the holding period later. A tax tool or portfolio tracker takes over the record-keeping once you connect the accounts.

The register details in this article come from the Quant Network Ltd entry at Companies House, and the details on the mandate from the report by Ledger Insights.

(As of October 13, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)