U.S. Banks Are Building Their Own Blockchain and They Want It Live by 2027
TLDR
- Thirty-nine U.S. state banking associations have formed the BankChain Alliance to build a bank-owned blockchain network
- The network is targeting a 2027 launch and will support stablecoins, tokenized deposits, and smart payments
- Kathy Kraninger, former CFPB director and Florida Bankers Association CEO, is serving as interim chair
- The alliance is still searching for a technology partner and plans to make the network interoperable with other blockchains
- BankChain joins several other bank-led blockchain initiatives already underway across the U.S.
Thirty-nine U.S. state banking associations have joined together to form the BankChain Alliance, a new initiative to build a nationwide, industry-owned blockchain network for banks. The group announced the project on Tuesday and is targeting a 2027 launch.
JUST IN: 39 U.S. state banking associations are joining forces to build a nationwide, bank-run blockchain network.
The “BankChain Alliance” is targeting a 2027 launch and will support regulated stablecoins, tokenized deposits and smart payments.
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