BankChain Alliance Targets 2027 Launch for US Banks

The BankChain Alliance has formed among 39 state bankers associations in the US. The alliance aims to create an industry-owned and industry-governed blockchain network for banks, with a target launch date of 2027. However, selecting a technology partner is still unresolved.

Kathy Kraninger, president and chief executive of the Florida Bankers Association, is serving as interim chair. The proposed applications for the network include smart payment tools, tokenized deposits, stablecoins, and automated settlement.

The 2027 target launch date is dependent on choosing a technology partner, which has yet to be named. The alliance also intends for the network to be interoperable with other networks.