Bankers groups form BankChain Alliance for industry blockchain

Bankers associations in 39 US states have created the BankChain Alliance to build an industry-owned blockchain network that will let regional banks offer tokenized deposits, stablecoins, smart payment tools and automated settlement.

The alliance represents more than 3,200 banks with roughly $21.8 trillion in combined assets. Organisers say the project is intended to help smaller, regional institutions develop and deliver blockchain-based services without each bank having to build its own infrastructure.

The group expects a live network in 2027 and is seeking a technology partner to develop the platform. It has not named a provider or released technical specifications for the network.

By pooling resources through state bankers associations, participants hope to reduce duplicated effort and lower barriers to offering blockchain services while keeping to regulatory and security requirements. The planned platform is described as industry-owned, industry-designed and industry-governed and will use a common technical foundation for member banks.

Organisers say the initiative aims to help regional banks match the capabilities of larger banks and fintech firms that have already invested in blockchain infrastructure. Shared infrastructure is intended to allow member banks to add tokenized deposits and stablecoins to customer products and back-office processes while maintaining consistent controls.

Kathy Kraninger, interim chair of the BankChain Alliance and chief executive of the Florida Bankers Association, described the effort as “This is about banks of all sizes building their own future.”

The alliance plans collective governance through participating state associations to set standards and oversee operations. Further announcements on partner selection, governance details and the network’s technical architecture are expected as development proceeds toward the 2027 target.