US Banks Prepare to Launch Nationwide Blockchain Network in 2027

BankChain enters a growing market of bank-led networks developing shared infrastructure for tokenized deposits and blockchain-based payments.

Thirty-nine US state banking associations have established the BankChain Alliance to develop a nationwide, bank-owned blockchain network, with a 2027 launch targeted.

On Tuesday, the alliance announced that the network plans to support smart payment tools, tokenized deposits, stablecoins and automated settlement. BankChain said it intends to make the network interoperable with other blockchains while selecting a technology partner.

The participating associations represent thousands of financial institutions across the US. BankChain said banks nationwide will be invited to take ownership stakes in the network. However, the announcement did not identify individual banks that have committed to joining or explain how the network will be governed or funded.

BankChain joins several US bank-led networks that have been announced or expanded since late 2025, covering major, regional and community lenders developing shared infrastructure to move deposits and payments onchain within the regulated banking system.

US Banks Build Shared Onchain Payment Networks#

In June, The Clearing House announced an onchain money initiative backed by JPMorgan Chase, Bank of America, Citi, BNY and Wells Fargo. The proposed network would clear and settle tokenized bank deposits while connecting blockchain activity with The Clearing House’s existing payment systems.

Unlike independently issued stablecoins, tokenized deposits reflect claims on individual banks and remain classified as commercial bank money. This structure lets banks provide programmable, 24/7 transfers while keeping customer funds on their balance sheets.

Regional lenders are developing a separate network through Cari, which was created with Huntington, First Horizon, M&T Bank, KeyBank and Old National. Cari launched its minimum viable product in March and had attracted more than 30 participating banks by July.

Community banks have also established the DTX Consortium through the Independent Bankers Association of Texas. IBAT said in June that membership had surpassed 50 banks as the group prepared to launch a tokenized-deposit pilot.

Stablecoin developers are also adopting consortium-based models. In June, Open Standard named more than 140 payments, banking, technology and crypto companies linked to Open USD, a dollar-backed stablecoin that is expected to launch later in 2026.

The project plans to provide businesses with fee-free minting and redemption while sharing reserve earnings among participating companies.