Crypto
US Bankers Unite to Build Their Own Stablecoin Blockchain Network
A coalition of 39 US state bankers' associations has launched the BankChain Alliance to build a shared, bank-owned blockchain network for stablecoins, tokenized deposits, and automated settlement.
The alliance represents 3,283 banks holding a combined $21.8 trillion in assets. Kathy Kraninger, who also leads the Florida Bankers Association, is serving as interim chair.
The goal of the project is to give banks a way to offer stablecoins and tokenized deposits while maintaining regulatory compliance and security standards.