Thirty-nine state banking groups unite to build a bank-owned blockchain for tokenized deposits and automated settlement by 2027.
Thirty-nine state banking associations have launched the BankChain Alliance to create a shared blockchain network for U.S. financial institutions. The initiative aims to support tokenized deposits, stablecoins, programmable payments, and automated settlement, targeting a 2027 rollout.
The alliance has not yet selected a technology provider, blockchain architecture, or governance model. It seeks to enable banks of all sizes to adopt blockchain-based services while adhering to existing regulatory standards.
Interim Chair Kathy Kraninger stated the network would allow institutions to offer modern capabilities while maintaining security and efficiency across communities. No participating banks have been disclosed.