BankChain Alliance Unveils $21.8 Trillion Onchain Network

A coalition of 39 state banking groups has formed the BankChain Alliance to create a $21.8 trillion onchain network that banks own and govern themselves.

The group, which includes associations from Texas, Florida, and other states, aims to launch the network in 2027 and provide a platform for tokenized deposits, bank-issued stablecoins, smart payments, and automated settlement.

Kathy Kraninger, interim chair of the alliance and leader of the Florida Bankers Association, noted that regulation and safety will be at the forefront of the research. Amber Van Til, CEO of the Indiana Bankers Association, called it another tool as payment systems evolve.

The alliance differs from other bank blockchain efforts in its structure, which models itself on the Federal Home Loan Bank system and grants equal access and voice to all member banks regardless of asset size.