39 US Banking Groups Are Building Their Own Stablecoin Blockchain

A coalition of 39 state bankers’ associations announced the formation of the BankChain Alliance, a collaborative effort to develop an industry‑owned blockchain network for stablecoins, tokenized deposits, and automated settlement.

Project Scope and Goals

The alliance describes the network as industry‑owned, industry‑designed, and industry‑governed, aiming to enable participating financial institutions to launch new digital banking services while maintaining regulatory compliance, security, and customer trust.

Leadership and Timeline

Interim chair Kathy Kraninger, who also leads the Florida Bankers Association, is heading the initiative. The alliance targets a launch in 2027 and has not yet disclosed a technology partner.

Scale of Participation

The 39 state banking associations collectively represent 3,283 banks with total assets of $21.8 trillion. The network is intended to interoperate with existing systems and to welcome ownership participation from banks nationwide.

Regulatory Context

In July, the same group urged U.S. senators to tighten stablecoin yield rules under the CLARITY Act, a digital‑asset market‑structure bill pending in the Senate. The alliance, along with the American Bankers Association and the Independent Community Bankers of America, signed a letter expressing concerns about ambiguities in the bill that could allow stablecoin arrangements to function as deposit substitutes.

Next Steps

Senators are expected to revisit the CLARITY Act in September, where a cloture vote will determine the fate of the yield‑related provisions.