US Banks Join Forces to Build a Blockchain of Their Own

In brief

• Thirty-nine state bankers associations formed the BankChain Alliance to develop blockchain infrastructure owned and governed by banks.
• The proposed network could support tokenized deposits, stablecoins, programmable payments, and automated settlement.
• The alliance has not selected a technology provider or disclosed its architecture, governance structure, or regulatory framework.

Thirty-nine state banking trade groups have formed the BankChain Alliance, a coalition planning a shared blockchain network for community and regional banks.

Announced Tuesday, the proposed network aims to support tokenized deposits, stablecoins, programmable payments, and automated settlement for thousands of U.S. financial institutions. It is targeting a 2027 launch but has yet to name a technology provider, blockchain, governance model, or participating banks.

The alliance said the shared network would help banks of all sizes adopt blockchain-based services while maintaining existing regulatory standards.

“Through an unprecedented collaboration representing thousands of banks, BankChain Alliance is developing a secure, regulated, industry-built and industry-owned network that allows institutions of all sizes to provide modern capabilities so they can continue serving customers safely and efficiently in rural, urban and regional communities across the country,” Interim Chair of the BankChain Alliance, and Florida Bankers Association President and CEO, Kathy Kraninger said in a statement.