US banking groups plan nationwide blockchain network for 2027

BankChain has stated its intention for the network to be interoperable with other existing blockchains and is in the process of selecting a technology partner. The alliance represents thousands of financial institutions across the United States and plans to offer ownership stakes to banks nationwide. However, specific details regarding individual bank commitments, the network's governance structure, and its funding model have not yet been disclosed.

This development places BankChain within a growing landscape of bank-led initiatives focused on building shared onchain payment infrastructure. In October, Custodia Bank and Vantage Bank Texas introduced an interoperable tokenized-deposit platform for U.S. banks. The following month, JPMorgan launched its JPMD deposit token on Base for institutional clients, with plans to expand it to other networks and currencies. In January, BNY announced a private, permissioned platform for tokenized deposits, initially for collateral and margin transactions. In July, Swift said 17 global banks would test tokenized-deposit transfers outside traditional banking hours.