BankChain Alliance Targets a 2027 Launch for U.S. Banks

Thirty-nine U.S. state bankers associations announced the formation of the BankChain Alliance on Aug. 25, establishing an industry-owned and industry-governed blockchain network for banks. The alliance is targeting a 2027 launch, but it has yet to select the technology partner that would support the network.

The announcement puts state banking groups behind a shared network initiative rather than a project identified with a single bank or technology provider. At this stage, the public plan sets out a target and intended applications, while the core technology selection remains unresolved.

BankChain Alliance forms with 39 state bankers associations

BankChain Alliance was announced by 39 U.S. state bankers associations as an industry-owned and industry-governed blockchain network for banks, the New Hampshire Bankers Association said; as of the Aug. 25 announcement, no technology provider had been selected. Kathy Kraninger, president and chief executive of the Florida Bankers Association and a former director of the Consumer Financial Protection Bureau, is serving as interim chair, according to CoinDesk.

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