US Banks Join Forces to Launch In-House Blockchain by 2027
The BankChain Alliance, formed by 39 state banking associations in the US, aims to launch a bank-owned blockchain network by 2027. This move is a response to the growing use of stablecoins issued by external companies and concerns about customer deposits flowing out of traditional banks.
The alliance represents approximately 3,283 banks managing assets totaling $21.8 trillion as of March 31, 2026. Interim chairperson Kathy Kraninger stated that this is 'about banks of all sizes building their own future together.' The network will enable tokenized deposits, bank-issued stablecoins, smart payments, and automated settlement.
The BankChain Alliance seeks to create a secure, regulated, industry-built and industry-owned network. This move is seen as an effort by the banking industry to bring 'on-chain capabilities' within their own regulatory boundaries.