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39 banking associations in the United States have announced the creation of a shared blockchain network called BankChain. The project is scheduled to launch in 2027, with the network planned for use in stablecoin transfers, automated clearing, and payments.
Representatives of the newly formed BankChain Alliance stated that the project aims to help banks reduce the risk of deposit outflows to stablecoin issuers. According to project participants, their own infrastructure will allow them to keep client funds within the banking system and facilitate the use of new methods for conducting settlements.
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The development of BankChain is coordinated by the Texas Bankers Association. Kathy Kraninger, head of the Florida Bankers Association and former director of the U.S. Consumer Financial Protection Bureau, has been appointed as the interim chair of the alliance. The creators of the network are currently selecting a technology partner. BankChain aims to ensure compatibility with other blockchains, enabling banks to conduct transactions through external networks.
Alliance members intend to offer equity participation in the project to other U.S. banks, promising to make them co-owners of the new infrastructure.
Previously, major U.S. banks—JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo—began work on their own network for tokenized deposits. The launch of the platform is expected in the first half of 2027.
