US Banks Unite to Launch Shared Blockchain Network

Thirty-nine state banking associations in the US have joined forces to launch BankChain, a shared blockchain infrastructure aimed at introducing tokenized deposits, stablecoins, smart payments, and automated settlement capabilities for banks nationwide.

The BankChain Alliance seeks to build a blockchain platform collectively owned, governed, and designed by participating banks. The coalition represents thousands of financial institutions serving millions of individuals and businesses.

Kathy Kraninger, president and CEO of the Florida Bankers Association, serves as the alliance's interim chair. She emphasized that the planned infrastructure could allow banks to deliver modern financial services while continuing to serve their local communities.