# US banking associations BankChain Alliance formation > Live situation record from CLSTR: https://clstr.news/situations/us-banking-associations-bankchain-alliance-formation > Updated: 2026-08-29T07:45:56.000Z. Sources: 35. Developments: 2. Thirty-nine US state banking associations have established the BankChain Alliance to create a nationwide, industry-owned blockchain network. Targeting a 2027 launch, the initiative seeks to provide regulated infrastructure for digital financial services, including smart payments, automated settlements, tokenized deposits, and stablecoins. The alliance, which represents 3,283 banks with approximately $21.8 trillion in assets, aims to ensure community and regional banks can participate in blockchain infrastructure alongside larger institutions. Kathy Kraninger, CEO of the Florida Bankers Association, is serving as interim chair. The project is positioned as a strategic defense against competition from private stablecoins. Industry leaders have noted that if regulators permit interest-bearing stablecoins, as much as $6 trillion in commercial deposits could exit the traditional banking system. By focusing on tokenized deposits, which remain liabilities on specific bank balance sheets, the alliance intends to keep funds within the regulated banking ecosystem. ## Timeline ### 2026-08-29: BankChain Alliance formed by 39 U.S. banking groups Thirty-nine U.S. state banking associations have launched the BankChain Alliance to build a blockchain network for tokenized deposits and stablecoins by 2027, aiming to protect traditional bank deposits. 2 sources. https://clstr.news/cluster/bankchain-alliance-formed-by-39-us-banking-groups ### 2026-08-25: BankChain Alliance formed by 39 US state banking associations Thirty-nine US state banking associations have launched the BankChain Alliance to build an industry-owned blockchain network for tokenized deposits and stablecoins, targeting a 2027 launch. 33 sources. https://clstr.news/cluster/us-banking-associations-form-bankchain-alliance-for-blockchain-network --- Cite as: US banking associations BankChain Alliance formation. CLSTR, https://clstr.news/situations/us-banking-associations-bankchain-alliance-formation