Texas Bankers Association supports launch of industry-owned blockchain network

(AUSTIN) - Today, 38 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 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.

"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.

"Texas bankers are proud to have helped lead the formation of BankChain Alliance and especially proud that this national effort is registered in the State of Texas," said Chris Furlow, president and CEO of the Texas Bankers Association. "By bringing state bankers associations together, the Alliance gives community banks in Texas and across the country a practical path to participate in new financial technologies while keeping the needs of their customers and local communities in focus."

Participating State Bankers Associations Include:

Media Contacts:

Texas Bankers Association

Carlos Espinosa

[email protected]

BankChain Alliance

Barbara Hagenbaugh

[email protected]