BankChain Alliance Forms to Launch Blockchain Network for 39 U.S. State Associations

Thirty-nine U.S. state bankers associations have come together to form the BankChain Alliance, aiming to create a common blockchain network for tokenized deposits, stablecoins, smart payments, and automated settlement by 2027.

The alliance is industry-owned, designed, and governed, giving community and regional banks a stake in infrastructure that might otherwise be controlled by large banks or crypto companies. Its member associations represent 3,283 banks with $21.8 trillion in assets, based on Federal Deposit Insurance Corp. call-report data as of March 31.

The BankChain Alliance is at an earlier stage than The Clearing House's tokenized-deposit initiative, which was unveiled in June and aims to clear and settle tokenized commercial-bank money onchain. BankChain has a broader product menu and a governance pitch built around state associations and banks of different sizes.