US banking associations unite to build industry-owned blockchain, targeting 2027 launch
The alliance is selecting a technology partner and expects to launch in 2027.
Thirty-nine state banking associations are joining forces to build a common blockchain platform that would allow banks to offer a wide range of digital financial services without relying on separate proprietary infrastructure.
The initiative, called BankChain Alliance, is designed to support smart payments, tokenized deposits, stablecoins and automated settlement while operating within existing banking standards for security and regulation. The network will be designed, governed and owned by the banking industry.
The BankChain Alliance is focused on giving banks of different sizes access to modern payment infrastructure while preserving their role in local communities. The participating associations represent thousands of banks serving consumers and businesses nationwide, including institutions in rural, regional and urban markets.
BankChain Alliance is undergoing a technology-partner selection process and plans to launch the network in 2027. The platform is also expected to interoperate with other networks and allow banks nationwide to participate in its ownership.