US Banks Unite on Nationwide Blockchain Network
US banks are forming a nationwide blockchain network to support smart payment tools and tokenized deposits. Thirty-nine US state banking associations have joined forces in the BankChain Alliance, aiming for a launch in 2027. The network will be interoperable with other blockchains and is expected to support stablecoins and automated settlement.
The participating associations represent thousands of financial institutions across the US. However, individual banks that have committed to joining the network are not named, nor are details provided on how the network will be governed or funded.
This is one of several bank-led networks announced in recent years, including The Clearing House's onchain money initiative and Cari, a regional lender network developed with Huntington, First Horizon, M&T Bank, KeyBank, and Old National.