BankChain Alliance plans US banks' blockchain network

Thirty-nine state bankers associations have formed BankChain Alliance to build an industry-owned blockchain network for US banks. The network is intended for financial institutions of all sizes.

The platform will be built on a common blockchain foundation and governed by the banking industry itself. The aim is to give participating banks access to newer forms of payments infrastructure while keeping activity within established banking oversight and security frameworks.

The initiative brings together associations representing thousands of financial institutions across the country. Those institutions serve millions of consumers and businesses, including community, regional and larger banks in rural, urban and regional markets.

According to the alliance, the proposed network is expected to support services such as smart payment tools, tokenised deposits, stablecoins and automated settlement. It is also being designed to work with other networks rather than operate in isolation.

A technology partner has not yet been chosen. The group is running a selection process and is targeting a 2027 launch.

Industry push

The project reflects a broader effort by established banking groups to shape new digital payment infrastructure themselves rather than rely on systems developed outside the sector. Supporters argue that shared ownership could help smaller institutions offer services that would otherwise be harder or more costly to build alone.

The alliance also linked the effort to the role banks play in local credit markets. Keeping deposits within the banking system, it said, helps preserve lending in communities, including support for small businesses, housing and agriculture.

Kathy Kraninger, Interim Chair of BankChain Alliance and President and Chief Executive Officer of the Florida Bankers Association, described the effort as a collective move by the sector.

"This is about banks of all sizes building their own future," said Kraninger.

She added that the scale of cooperation was unusual among state banking bodies and framed the network as a way for banks to offer newer services without surrendering control of core infrastructure.

"Through an unprecedented collaboration representing thousands of banks, BankChain Alliance is developing a secure, regulated, industry-built and industry-owned network that allows institutions of all sizes to provide modern capabilities so they can continue serving customers safely and efficiently in rural, urban and regional communities across the country," Kraninger said.

Broad membership

The participating associations span much of the US banking landscape. They include groups from Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin and Wyoming.

The organisers said the network will invite ownership from banks across the country, suggesting the initial coalition of trade bodies is intended as a foundation rather than a closed structure. That model could prove important if the alliance wants broad adoption among institutions with different sizes, business models and technology systems.

For banks, the effort comes as digital assets, tokenised money and newer payment rails attract growing attention from both financial incumbents and technology-led rivals. Community and regional lenders have often argued that they risk being left behind if access to emerging infrastructure depends on the investment capacity of the largest institutions.

BankChain Alliance is positioning its answer as a shared network under industry governance. Its central claim is that collaboration can reduce duplication and widen access to newer financial tools without moving those services outside the banking sector.

The network will be interoperable with other networks and will invite ownership from banks across the country.