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US banks form BankChain Alliance for tokenized deposits
The network is targeted for launch in 2027 and is designed to connect smaller financial institutions with blockchain payments and tokenized deposits.
Decrypt reports that a group of US banks has formed the BankChain Alliance to build a blockchain network for their industry.
The program is intended to give smaller financial institutions access to tokenized deposits and blockchain-based payments through a shared network, rather than each building separate infrastructure.
According to Decrypt, the alliance is aiming for a 2027 target date for the network.
The effort signals a broader push within traditional banking toward blockchain use cases tied to deposits and payments.