State banking groups unite to build shared blockchain for banks
DeFi & Yields ·
Bankers associations from 39 U.S. states have formed BankChain Alliance to develop a jointly owned blockchain network aimed at modernizing payment and deposit infrastructure for banks of all sizes.
The coalition, described in a notice from the NH Bankers Association, is building what it calls an industry-owned and industry-governed platform rather than relying on outside technology vendors. The network is intended to support tools such as smart payment processing, tokenized deposits, stablecoins, and automated settlement, giving smaller and community banks access to capabilities historically limited to larger institutions.
Kathy Kraninger, serving as interim chair of the alliance and head of the Florida Bankers Association, framed the effort as banks taking direct control of their technological future, describing it as a collaboration spanning thousands of institutions. Kristy Merrill of the NH Bankers Association, an interim board member of the alliance, said the initiative gives banks of varying sizes a say in how the underlying technology is built and governed, rather than leaving those decisions to third parties.
Organizers say the alliance is currently vetting technology partners and is aiming for a 2027 rollout. The resulting network is expected to be interoperable with existing financial systems and open to ownership by banks nationwide, rather than restricted to a single group of founding members.
Coverage of the announcement has also appeared through archive.ph, while broader context on the stablecoin and tokenized-payments landscape driving such initiatives has been tracked by leviathan.news. Together, the participating associations represent thousands of banks serving customers across both large metropolitan markets and smaller regional communities.
Still unclear is which technology provider will be selected to build the network, how governance and ownership stakes will be structured among participating banks, and how the platform will interact with existing federal payment rails and stablecoin regulation as it approaches its 2027 target date.