BankChain Alliance Aims for 2027 Launch of Blockchain Network

BankChain Alliance, a consortium of 39 US state banking groups, is working towards launching its blockchain-based network in 2027. The planned network will enable tokenized deposits, stablecoins, smart payments, and automated settlement for participating institutions.

The alliance represents over 3,283 banks with $21.8 trillion in assets. According to Kathy Kraninger, chair of BankChain Alliance and president and CEO of the Florida Bankers Association, the project aims to give banks of all sizes a role in building their own future infrastructure.

BankChain plans to accommodate both tokenized deposits and stablecoins alongside smart payment functions, giving participating institutions several types of blockchain-based payment instruments on the same network. The alliance has already completed the first stage of its request-for-proposals process and is evaluating technology providers.