A coalition of 39 state bankers’ associations launched BankChain Alliance to build an industry-owned blockchain network for stablecoins, tokenized deposits, and automated settlement. The 39 associations represent 3,283 banks holding $21.8 trillion in assets. The network is targeting a 2027 launch with no technology partner named yet. Kathy Kraninger, head of the Florida Bankers Association, serves as interim chair of the project. The same group also lobbied senators in July to tighten stablecoin yield rules in the CLARITY Act, whose Section 404 bars payment stablecoin issuers from paying returns solely for holding.
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