39 State Banking Groups Form BankChain Alliance for 2027 Blockchain Network

Thirty-nine U.S. state banking associations announced the formation of the BankChain Alliance on August 25, a consortium planning to build an industry-owned blockchain network with a target launch in 2027. The initiative aims to provide a shared, regulated infrastructure for banks to offer advanced financial services, including tokenized deposits, stablecoins, smart payment tools, and automated settlement. The alliance describes the project as "industry-owned, industry-designed, and industry-governed." Kathy Kraninger, president and CEO of the Florida Bankers Association and former director of the Consumer Financial Protection Bureau, is serving as interim chair.