US Community Banks Unite Against Infrastructure Challenges

Community banks in the US are banding together to create a blockchain network capable of supporting smart payments, tokenized deposits, stablecoins, and automated settlement.

The BankChain Alliance, announced on August 25 by 39 state banker associations, aims to pool their scale to address infrastructure challenges posed by programmable money.

While large institutions can build or aggregate infrastructure, smaller banks lack the resources to modernize payments systems individually.

'Owned' is key here, community banks are seeking collective ownership of this network, potentially becoming participants in its economics and governance.