39 U.S. state banking groups plan a bank-owned blockchain network for 2027

The New Hampshire Bankers Association's first-party announcement says the alliance is still selecting a technology partner and intends to make the network interoperable with other networks. CoinDesk reported that the project is being led by state banking groups and is aimed at keeping on-chain financial services within the banking system's regulatory sphere.

A banking rail still at the planning stage

The alliance has not named a technology partner or selected a specific blockchain platform. Its 2027 date is therefore a target, not a confirmed delivery schedule, and the announcement does not describe a live network, issued stablecoin or bank that is already settling customer transactions on BankChain.

Kathy Kraninger, president and CEO of the Florida Bankers Association, is serving as interim chair. Chris Furlow, president and CEO of the Texas Bankers Association, said Texas helped lead the formation of the alliance, according to the association statement.

Why it matters for stablecoins

The proposal puts banks on the infrastructure side of the stablecoin and tokenized-deposit debate. Rather than relying only on crypto-native issuers or public blockchains, the member associations are proposing a shared system whose participants would operate under existing banking standards and could invite ownership from banks nationwide.

That positioning is an industry plan, not a regulatory approval or a guarantee that the network will launch. The next concrete test is whether the alliance chooses a technology partner and turns its stated interoperability and ownership model into an implementable design.