The BankChain Alliance, formed by 39 banking associations in the United States, is scheduled to launch in 2027. They aim to give the industry its own blockchain network to establish smart payments, tokenized deposits, and stablecoin transactions.

The BankChain Alliance is “an industry-owned, industry-designed, and industry-governed network,” operating within the regulated sphere of national banking. Kathy Kraninger, CEO of the Florida Bankers Association, was selected to lead the project.

The official described it as “a secure and regulated network for banks of all sizes, including those in rural communities.”

Currently, there is no technology partner, so the changes have not yet been described. In any case, it is expected that BankChain Alliance will be able to operate with other blockchain systems.

“If the project moves forward, the competition will not only be between crypto companies and banks, but also between banking rails for tokenized money and public networks.Until there is a technology partner, a pilot program, or a concrete implementation, BankChain remains a project under development, although the announcement shows that traditional banking is looking to take a more active role in blockchain-based financial infrastructure.”

M.Pino

Source: cripto247

(Reference image source: Kanchanara on Unsplash)

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La entrada 39 banking sssociations to launch BankChain Alliance in the United States apareció primero en Bitfinance.