39 US Banks Unite for Shared Blockchain Network
Thirty-nine US state banking associations have come together to form BankChain Alliance, aiming to develop and launch a shared blockchain infrastructure by 2027. The network will support tokenized deposits, stablecoins, smart payments, and automated settlement.
The alliance's proposed industry-owned blockchain platform will be designed to serve banks of all sizes while maintaining existing security controls and customer protections. BankChain Alliance is currently in the process of selecting a technology partner and has not disclosed any specific provider or testing schedule.
Kathy Kraninger, president and CEO of the Florida Bankers Association, serves as interim chair of the alliance. She stated that the initiative would help banks develop modern financial services without abandoning their role within local communities.
The launch of BankChain Alliance arrives as traditional financial institutions increasingly explore blockchain-based payment infrastructure. Other initiatives, such as The Clearing House's bank-led onchain money project and Swift's blockchain-based cross-border payment testing, are also underway in the industry.