Thirty-nine US state banking associations have come together to form the BankChain Alliance, with the goal of building a blockchain infrastructure owned and supervised by the banking industry itself. The project was announced on August 25 and remains in the design phase, with work still ongoing and a target launch in 2027. The infrastructure is expected to support tokenized deposits, stablecoins, and programmable payments. The alliance was formed by state banking associations rather than individual banks, a decision aimed at ensuring the industry retains self-governance over the system and does not become reliant on platforms from large banks or crypto companies. According to Spaziocrypto, which reported the story, the group also stresses a fundamental difference between tokenized deposits and stablecoins. Tokenized deposits count as liabilities of a bank and are protected by deposit insurance. Stablecoins, however, require a dedicated legal framework and sufficient reserve assets. The formation of the BankChain Alliance brings together banking associations across 39 US states, reflecting an effort by regional banking groups to shape the development of blockchain-based financial infrastructure.
Thirty-nine US state banking associations have formed the BankChain Alliance to build a blockchain infrastructure owned and governed by the banking industry. The project, announced on August 25, is still in the design phase and is targeted to go live in 2027.
The planned network is meant to support tokenized deposits, stablecoins, and programmable payments. The alliance was created by state banking associations rather than individual banks, a structure the group says gives the industry self-governance over the system and avoids dependence on large banks or crypto companies.
Spaziocrypto, which reported the development, also outlined the difference between tokenized deposits and stablecoins. Tokenized deposits are bank liabilities covered by deposit insurance. Stablecoins, on the other hand, require a specific legal framework and reserve backing.
The BankChain Alliance brings together banking associations from 39 US states, providing a coordinated industry voice on the infrastructure behind tokenized money and digital payments.
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