Bank consortium plans blockchain network and stablecoins in 2027
The BankChain Alliance said it will build an industry-owned blockchain network for banks to debut in 2027, covering more than 3,000 institutions and about $21.8 trillion in assets. The platform would support tokenized deposits, stablecoins (starting with the dollar then the euro and other G7 currencies), smart payment tools and automated settlement, and it would be interoperable with other networks. The consortium is seeking a technology partner and aims to enable treasury, supply chain and cash management services, while uncertainty over the CLARITY Act and market reactions have raised competitive concerns for crypto issuers.
Banks plan a bank-owned blockchain enabling stablecoins and tokenized deposits.
Context
Banks have been increasingly open to stablecoins as nonbank firms expand in the market. The story could lead to a 2027 network launch and possible bank-issued stablecoin rollouts if plans proceed.
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