US Banks Join Forces to Build a Blockchain of Their Own
Thirty-nine state banking trade groups have formed the BankChain Alliance to build a shared blockchain network for community and regional banks. The planned network is intended to support tokenized deposits, stablecoins, programmable payments, and automated settlement for thousands of U.S. financial institutions, with a target launch in 2027. The coalition says the network would be industry-owned and help banks adopt blockchain services while staying within current regulatory standards. The alliance includes banking groups across most U.S. regions, from large states like Texas, Florida, Georgia, Pennsylvania, and Washington to smaller markets such as Maine, Vermont, Hawaii, Idaho, the Dakotas, and Wyoming. It has not yet named a technology provider, blockchain, governance model, or participating banks, and has not explained how interoperability or issuance and settlement will work. This effort comes amid growing banking-sector testing of tokenized deposits and around-the-clock settlement, including recent projects from Custodia, JPMorgan, BNY, and Swift.
