US Banks Unite to Build Blockchain Network for Tokenized Deposits and Stablecoins
The BankChain Alliance has been formed by 39 state banking associations in the United States. This collective effort aims to build a blockchain network owned, designed, and governed by the banking industry, with a target launch date of 2027.
The alliance represents approximately 3,283 banks, managing assets totaling $21.8 trillion (as of March 31, 2026). The interim chair is Kathy Kraninger, President and CEO of the Florida Bankers Association and former Director of the Consumer Financial Protection Bureau (CFPB).
The primary goal of this initiative is to enable banks to offer services on-chain while preventing customer funds and deposits from flowing to external stablecoin issuers. The network will support tokenized deposits, bank-issued stablecoins, smart payments, and automated settlements.