39 U.S. State Banking Associations Form BankChain Alliance

A consortium of 39 state banking associations has signed onto the BankChain Alliance to launch a bank-run blockchain network by 2027. The group aims to facilitate financial innovations, including tokenized deposits and stablecoins, through a secure and regulated infrastructure.

The alliance describes its planned network as a platform that allows institutions of all sizes to provide modern capabilities while continuing to serve customers. The project is intended to be interoperable with other networks, though the confederation is still searching for a technology partner to build the system.

This initiative aligns with broader banking sector moves toward digital asset adoption to support stablecoin and tokenization transactions. Last month, Swift, the bank-owned messaging network used across the global banking sector, announced that 17 banks are testing transactions of tokenized digital assets on a blockchain ledger. Among the participants in the Swift trial are Citigroup and Wells Fargo.