- Thirty-nine US state banking associations formed the BankChain Alliance to build a nationwide, industry-owned blockchain network targeting a 2027 launch.
- The network will support smart payment tools, tokenized deposits, stablecoins, and automated settlement and aims to be interoperable with other blockchains.
- This initiative joins several other bank-led networks announced since late 2025, including efforts by major, regional, and community lenders to move deposits and payments onchain.
Thirty-nine US state banking associations have formed the BankChain Alliance to build a nationwide, industry-owned blockchain network for banks, targeting a 2027 launch. The alliance announced on Tuesday that the network intends to support smart payment tools, tokenized deposits, stablecoins, and automated settlement, while also selecting a technology partner.
The participating associations represent thousands of financial institutions across the US. BankChain said it will invite banks nationwide to take ownership stakes, though the announcement did not mention individual banks committed to joining or disclose governance or funding details.
This initiative joins several other US bank-led networks announced or advanced since late 2025. In June, The Clearing House announced an onchain money initiative supported by major institutions like JPMorgan Chase and Bank of America to clear and settle tokenized deposits.
Regional lenders are pursuing a separate network through Cari, which launched a minimum viable product in March with more than 30 participating banks by July. Community banks have also formed the DTX Consortium through the Independent Bankers Association of Texas, which said membership exceeded 50 banks as it prepared a tokenized-deposit pilot.
Stablecoin developers are also turning to consortium models, with Open Standard naming over 140 companies for Open USD, a dollar-backed stablecoin expected later in 2026. The project plans fee-free minting and redemption while distributing reserve earnings to participating companies.
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