US Banks Unite on Shared Blockchain Infrastructure Project
Thirty-nine US banking associations have formed the BankChain Alliance to develop a shared blockchain infrastructure for smaller financial institutions. The initial rollout is targeted for 2027.
The system, which will offer payments and digital money services, will be industry-owned, designed, and governed. It will include connections with other financial networks and provide various products such as smart payments, tokenized deposits, stablecoins, and automated settlement.
No participating banks have been named yet, but the initial rollout is expected to support several types of regulated digital money, including tokenized deposits and stablecoins. The project remains at an early stage, with no bank having publicly committed to ownership or use.