US Banks Join Forces to Build a Blockchain of Their Own
In brief Thirty-nine state bankers associations formed the BankChain Alliance to develop blockchain infrastructure owned and governed by banks. The proposed network could support tokenized deposits, stablecoins, programmable payments, and automated settlement.
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Key Facts
- Fact 1: It is targeting a 2027 launch but has yet to name a technology provider, blockchain, governance model, or participating banks.
- Fact 2: In July, Swift said 17 global banks would test tokenized-deposit transfers outside traditional banking hours.
In brief Thirty-nine state bankers associations formed the BankChain Alliance to develop blockchain infrastructure owned and governed by banks. The proposed network could support tokenized deposits, stablecoins, programmable payments, and automated settlement.
The alliance has not selected a technology provider or disclosed its architecture, governance structure, or regulatory framework. Thirty-nine state banking trade groups have formed the BankChain Alliance, a coalition planning a shared blockchain network for community and regional banks. Announced Tuesday, the proposed network aims to support tokenized deposits, stablecoins, programmable payments, and automated settlement for thousands of U.S.
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Original source: Decrypt
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