ME News reports that on August 26 (UTC+8), 39 U.S. state banking associations jointly established the BankChain Alliance, aiming to launch an industry-owned blockchain network by 2027 to advance financial innovations such as smart payments, tokenized deposits, and stablecoins. The project is temporarily led by Kathy Kraninger, CEO of the Florida Bankers Association and former Director of the Consumer Financial Protection Bureau. Kraninger stated that the network will be owned, designed, and governed by the industry, while remaining interoperable with other networks. The project is currently seeking technology partners. (Source: ODAILY)
39 U.S. State Bank Associations Form BankChain Alliance to Launch Blockchain Network by 2027
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Summary
Thirty-nine U.S. state bank associations have formed the BankChain Alliance, aiming to launch a blockchain network upgrade by 2027 to support innovations such as smart payments and tokenized deposits. The network will be industry-owned and interoperable with other systems. Kathy Kraninger, CEO of the Florida Bankers Association, leads the initiative. The project is currently seeking technical partners to help build the infrastructure. Token launch announcements are expected as the network advances toward deployment.
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