Banks of all sizes to be able to safely offer modern payments services, preserving local lending in communities across the country
Today, 39 state bankers associations announced the formation of BankChain Alliance to provide customers across the country secure, modern banking services at financial institutions of all sizes.
Representing one of the most expansive efforts among state bankers associations, the BankChain 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.
“The Iowa Bankers Association has long been a leader in our industry, and we are proud to be at the table in developing this solution,” said Adam Gregg, President and CEO of the Iowa Bankers Association. “Iowa is a strong community banking state where banks have always embraced innovation, all while preserving the trust their customers and communities depend on. This industry-owned network will help Iowa banks anticipate and meet customer demand for modern payment technology, while ensuring institutions of all sizes can continue serving their communities safely and effectively.”
“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.”
The Alliance is undergoing a rigorous process to select a technology partner and is targeting a 2027 launch. The BankChain Alliance network will be interoperable with other networks and will invite ownership from banks across the country.
Together, the state bankers associations represent thousands of financial institutions serving millions of consumers, businesses, and communities nationwide. While each association serves its own unique market, this initiative reflects a unified vision: that the future of banking is strongest when built collaboratively, governed by industry, and accessible to all institutions.
Participating State Bankers Associations Include:
Alabama Bankers Association
Arkansas Bankers Association
Connecticut Bankers Association
Delaware Bankers Association
Florida Bankers Association
Georgia Bankers Association
Hawaii Bankers Association
Idaho Bankers Association
Indiana Bankers Association
Iowa Bankers Association
Kansas Bankers Association
Maine Bankers Association
Maryland Bankers Association
Massachusetts Bankers Association
Michigan Bankers Association
Minnesota Bankers Association
Mississippi Bankers Association
Missouri Bankers Association
Nebraska Bankers Association
Nevada Bankers Association
New Hampshire Bankers Association
New Jersey Bankers Association
North Carolina Bankers Association
North Dakota Bankers Association
Ohio Bankers League
Oklahoma Bankers Association
Oregon Bankers Association
Pennsylvania Bankers Association
Rhode Island Bankers Association
South Carolina Bankers Association
South Dakota Bankers Association
Tennessee Bankers Association
Texas Bankers Association
Utah Bankers Association
Vermont Bankers Association
Virginia Bankers Association
Washington Bankers Association
Wisconsin Bankers Association
Wyoming Bankers Association
Media Contacts:
Iowa Bankers Association
Jenica Lensmeyer
jlensmeyer@iowabankers.com
BankChain Alliance
Barbara Hagenbaugh
barbara@willowoakcommunications.com