Thirty-nine U.S. state banking associations have come together to launch BankChain Alliance, a new industry group planning to roll out a banking-owned blockchain network by 2027. The initiative is aimed at supporting financial innovation in areas including smart payments, tokenized deposits, and stablecoins. Kathy Kraninger, CEO of the Florida Bankers Association and former director of the Consumer Financial Protection Bureau, has been named interim chair of the project. Kraninger said the planned network will be owned, designed, and governed by the industry itself, while also remaining interoperable with other networks. The alliance has not yet named a technology provider and is still looking for technical partners as the project moves forward.
Thirty-nine U.S. state banking associations have formed BankChain Alliance and plan to launch an industry-owned blockchain network by 2027.
The group said the network is intended to support financial innovation, including smart payments, tokenized deposits, and stablecoins. The project’s interim chair is Kathy Kraninger, CEO of the Florida Bankers Association and former director of the Consumer Financial Protection Bureau.
Kraninger said the network will be owned by the industry, designed by the industry, and governed by the industry, while remaining interoperable with other networks. The alliance is still searching for technical partners.
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