Crypto
Banks Unite to Build Blockchain Network Ahead of 2027 Launch
A group of banks and state banking associations have launched the BankChain Alliance to build and operate their own blockchain network, aiming for a launch in 2027.
The alliance includes 39 state banking associations comprising 3,283 banks with a collective $21.8 trillion in assets.
Kathy Kraninger, president and CEO of the Florida Bankers Association, is the president and CEO of the organization.
The goal is to create an interoperable blockchain that all alliance members can use for smart payments, tokenized deposits, stablecoins, automated settlement, and other innovations.