39 US Banking Groups Are Building Their Own Stablecoin Blockchain

A coalition of 39 state bankers' associations formed BankChain Alliance on Tuesday to build an industry-owned blockchain network for stablecoins, tokenized deposits, and automated settlement.

The same group also spent July pressing senators to tighten stablecoin yield rules in the CLARITY Act.

BankChain Alliance Targets a 2027 Launch

BankChain Alliance describes the project as industry-owned, industry-designed, and industry-governed.

According to the announcement, the network will enable participating financial institutions to offer new digital banking services while preserving the regulatory compliance, security, and customer trust associated with traditional banks.

Interim chair Kathy Kraninger leads the effort. She also runs the Florida Bankers Association.

"BankChain Alliance is developing a secure, regulated, industry-built and industry-owned network that allows institutions of all sizes to provide modern capabilities so they can continue serving customers safely and efficiently in rural, urban and regional communities across the country," she said.

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