BlockBeats News, August 27th - The BankChain Alliance has been established by 39 state banking associations in the United States. The alliance plans to build a blockchain network collectively owned and governed by banks for community and regional banks, with the aim of launching in 2027. The network is expected to support functions such as tokenized deposits, stablecoins, programmable payments, and automated settlement, intending to help small and medium-sized banks access blockchain financial infrastructure while complying with existing regulatory standards.

Currently, BankChain has not disclosed the technology provider, underlying blockchain, network architecture, governance model, or regulatory framework. It is also not clear whether it will be based on existing public blockchains such as XRP, Ethereum, or Solana. The alliance has stated that the network is expected to cover thousands of U.S. financial institutions.