US Banking Associations Launch BankChain Alliance for Blockchain Network

TLDR

• 39 US state banking associations have launched the BankChain Alliance
• The group is aiming for a 2027 launch of a nationwide blockchain network
• The network would support tokenized deposits, stablecoins, and automated settlement
• BankChain says the system will work with other blockchains
• It joins other bank-led projects like The Clearing House, Cari, and DTX Consortium

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Thirty-nine US state banking associations have formed a new group called the BankChain Alliance. The group wants to build a nationwide blockchain network for banks.

The alliance is aiming for a launch in 2027. It plans to create shared infrastructure that many banks could use together.

BankChain announced its plans on Tuesday. The group said the network would support smart payment tools, tokenized deposits, stablecoins, and automated settlement.

The alliance also said the network is meant to work with other blockchains. This means it could connect to different systems instead of standing alone.

BankChain is currently choosing a technology partner to help build the network. The group has not named that partner yet.

The participating banking associations represent thousands of financial institutions across the country. No individual banks have been named as confirmed members so far.

BankChain has not shared details on how the network will be governed or funded. Those questions remain unanswered for now.

Cointelegraph contacted BankChain for more information. The group had not responded by the time this article was published.

A Growing List of Bank Blockchain Networks

BankChain is not the first group of this kind. Several bank-led blockchain projects have started or moved forward since late 2025.

In June, The Clearing House announced its own onchain money project. Banks involved include JPMorgan Chase, Bank of America, Citi, BNY, and Wells Fargo.

That network is designed to clear and settle tokenized deposits between banks. It would also link blockchain activity with payment systems already in place.

Regional banks are working on a separate project through a company called Cari. Banks involved include Huntington, First Horizon, M&T Bank, KeyBank, and Old National.

Cari launched an early version of its network in March. More than 30 banks had joined by July.

Community banks have their own effort too. The Independent Bankers Association of Texas formed the DTX Consortium for smaller banks, which passed 50 members in June.

What Tokenized Deposits Mean for Banks

Tokenized deposits work differently than stablecoins issued by private companies. A tokenized deposit represents a claim on a specific bank rather than a separate digital asset.

This means the funds stay on the bank’s balance sheet. Banks still treat the money as commercial bank money under current rules.

The setup lets banks offer transfers that work at any time of day. Payments can also be programmed to follow set rules automatically.

Stablecoin developers are forming similar groups. In June, a project called Open Standard named more than 140 companies connected to a stablecoin called Open USD, which is expected to launch later in 2026.

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Source: https://blockonomi.com/us-banking-associations-launch-bankchain-alliance-for-blockchain-network/