US Banks Unite Against Stablecoins with BankChain Alliance
Thirty-nine banking associations in the United States have come together to form the 'BankChain Alliance'.
The alliance aims to address concerns about client and capital flight into blockchain-based stablecoins.
Initiated by the Texas Banking Association, the consortium represents thousands of community and mid-sized commercial banks looking to develop a 24/7 nationwide bank-governed system for on-chain banking.