39 U.S. state banking groups plan BankChain Alliance blockchain network

Thirty-nine U.S. state banking associations plan to build BankChain Alliance, a blockchain network for the banking sector, CoinDesk reported. The network is targeting a 2027 launch and is expected to support stablecoins, tokenized deposits and smart payments. The report said the network would be designed and operated directly by the banking industry and would also support interoperability with other networks. The project is currently seeking a technology partner to lead development. Kathy Kraninger, interim chair and CEO of the Florida Bankers Association, said the regulated and secure network would enable financial institutions of all sizes to provide modern financial services.