Thirty-nine US state banking associations, led by Texas, announced the BankChain Alliance on August 25. The consortium aims to build a nationwide permissioned blockchain network owned and governed by the participating banks themselves. The network, targeting a 2027 launch, will offer tokenized deposits, smart payment tools, automated settlement, and bank-issued stablecoins. Kathy Kraninger, former director of the Consumer Financial Protection Bureau, serves as interim chair. This initiative positions community banks directly in a sector previously dominated by companies like Circle and Tether.
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