39 state banking associations in the U.S. have announced the creation of the BankChain Alliance to launch a shared blockchain network. The initiative involves thousands of banks and will become one of the largest collaborative projects among state banking associations.
The network will be fully owned, developed, and governed by the banking industry itself. It will enable banks of all sizes to offer cutting-edge banking services such as smart payments, tokenized deposits, stablecoins, and automated settlements, while maintaining familiar regulatory standards, security, and customer trust.
Kathy Craininger, interim chair of the alliance, noted that the goal is to give banks of all sizes—from rural to regional— the opportunity to build their future together, rather than relying on large tech platforms.
The alliance is currently in the process of selecting a technology partner, and the network’s launch is scheduled for 2027. The network will be compatible with other blockchain networks and open to participation by banks from across the country.