Us State Bankers Associations form BlockChain Alliance

39 US state bankers associations have announced the formation of BankChain Alliance to provide customers across the country with secure, modern banking services at financial institutions of all sizes. Representing one of the most expansive efforts among state bankers associations, the Alliance is creating an industry-owned, industry-designed and industry-governed network built on a common blockchain platform. The BankChain Alliance network will allow participating financial institutions the ability to provide emerging banking capabilities while maintaining the regulatory standards, security, and trust that customers expect from their banks. Examples of such innovations are smart payment tools, tokenized deposits, stablecoins, automated settlement, and other innovations. “This is about banks of all sizes building their own future,” said Kathy Kraninger, Interim Chair, BankChain Alliance, and Florida Bankers Association President and CEO. “Through an unprecedented collaboration representing thousands of banks, BankChain Alliance is developing a secure, regulated, industry-built and industry-owned network that allows institutions of all sizes to provide modern capabilities so they can continue serving customers safely and efficiently in rural, urban and regional communities across the country.”