US bankers stablecoin blockchain: 39 associations, $21.8 trillion, target 2027

A group of state-level banking associations is done watching crypto firms build the rails for digital money without them. On Tuesday, 39 US state bankers’ associations formed a coalition called BankChain Alliance, an effort to build a shared, bank-owned blockchain network for stablecoins, tokenized deposits, and automated settlement. The push toward a bank-led US bankers stablecoin blockchain initiative arrives just as Congress debates how much yield stablecoin issuers should be allowed to offer, and the two fights are tightly connected.

Key takeaways

• 39 US state bankers’ associations launched the BankChain Alliance on Tuesday to build a shared blockchain network.
• The coalition represents 3,283 banks holding a combined $21.8 trillion in assets.
• Kathy Kraninger, who also leads the Florida Bankers Association, serves as interim chair.
• BankChain targets a 2027 launch but has not yet chosen a technology partner.
• The group sent a July 13 letter urging the Senate to tighten stablecoin yield rules in the CLARITY Act.

BankChain Alliance Formed by 39 US State Bankers’ Associations

Thirty-nine state banking associations have joined together to launch an industry-owned network rather than leave stablecoin and tokenized-deposit infrastructure to outside tech providers. The coalition’s stated goal is straightforward: keep the rails for digital banking under bank control, governed by the same institutions that already answer to federal and state regulators.

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