US state banking associations launch BankChain Alliance for nationwide blockchain network

On August 25, 2026, 39 US state banking associations launched the BankChain Alliance, led by the Texas Bankers Association and interim chair Kathy Kraninger, to build a nationwide permissioned blockchain network by 2027. The bank-owned network plans to offer tokenized deposits, smart payments, and bank-issued stablecoins to compete with non-bank issuers like Circle and Tether. The alliance has not yet selected a technology partner or blockchain protocol.

BankChain Alliance formation

• ▪On August 25, 2026, 39 US state banking associations announced the formation of the BankChain Alliance to build a nationwide blockchain network.
• ▪The Texas Bankers Association is leading the BankChain Alliance initiative.
• ▪The BankChain Alliance is designed to be an industry-owned, industry-designed, and industry-governed consortium representing thousands of banks.

Permissioned blockchain network design

• ▪The BankChain Alliance network is designed to be interoperable with other networks rather than operating as a walled garden.
• ▪The BankChain Alliance plans to build a permissioned blockchain network that restricts transaction validation to participating banks.

Tokenized deposit infrastructure

• ▪The planned BankChain Alliance network will support tokenized deposits, which represent traditional bank deposits as digital tokens to enable faster transfers and settlements.
• ▪Tokenized deposits on the BankChain Alliance network will remain protected by existing banking regulations as digital twins of traditional deposits.

Bank-issued stablecoin plans

• ▪The BankChain Alliance's stablecoin plans aim to position community banks in a market currently dominated by companies like Circle and Tether.
• ▪The BankChain Alliance plans to support bank-issued stablecoins backed by actual deposits and subject to existing regulatory oversight.

Kathy Kraninger regulatory background

• ▪Kathy Kraninger previously served as the director of the federal Consumer Financial Protection Bureau.
• ▪Kathy Kraninger, the president and CEO of the Florida Bankers Association, is serving as the interim chair of the BankChain Alliance.

Technology partner selection timeline

• ▪The BankChain Alliance is targeting a 2027 launch for its nationwide blockchain network.
• ▪The BankChain Alliance has not yet selected a technology partner or specific blockchain protocol to build the network.

2 sources