BankChain joins a growing field of bank-led networks building shared infrastructure for tokenized deposits and onchain payments.
Thirty-nine US state banking associations have formed the BankChain Alliance to build a nationwide, industry-owned blockchain network for banks, targeting a 2027 launch.
On Tuesday, the alliance announced that the network intends to support smart payment tools, tokenized deposits, stablecoins and automated settlement. BankChain said it plans for the network to be interoperable with other blockchains and said it was selecting a technology partner.
The participating associations represent thousands of financial institutions across the US. BankChain said it will invite banks nationwide to take ownership of stakes. However, the announcement did not mention individual banks that have committed to joining or disclose how the network will be governed or funded.
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