BankChain Targets 2027 U.S. Blockchain Launch as 39 Banking Groups Join Forces

Thirty-nine U.S.

state banking associations announced on 25 August the formation of BankChain Alliance, an industry consortium that will build a bank-owned blockchain system targeted to support tokenized deposits, stablecoins, smart payment tool and automated settlement, expected to become operational in 2027.

The associations represent thousands of banks across the U.S., and the hope of BankChain is to allow banks, regardless of their size, to buy-in and provide community and regional banks access to blockchain infrastructure without creating their own networks.

Interim chair of BankChain is Kathy Kraninger, who is president and CEO of the Florida Bankers Association and was director of the Consumer Financial Protection Bureau. BankChain has said the network is slated to launch in 2027.