Thirty-nine state banking associations unite to build an industry-owned blockchain for tokenized deposits and automated settlements.
Thirty-nine US state banking associations have formed the BankChain Alliance to develop a nationwide blockchain network, targeting a 2027 launch. The network aims to support tokenized deposits, smart payments, stablecoins, and automated settlement, with interoperability across other blockchains.
The initiative follows similar efforts by major banks, including JPMorgan Chase, Bank of America, and Citi, to create shared onchain payment infrastructure. BankChain plans to invite financial institutions nationwide to take ownership stakes but has not disclosed governance or funding details.
The alliance represents thousands of banks but has not named specific participants. The network joins a growing trend of regulated banking systems exploring blockchain for deposits and payments.