US Banking Groups Plan National Blockchain Network for 2027
BITmarkets Team
Aug 27, 2026
The participating associations represent thousands of financial institutions across the United States. BankChain said banks nationwide will be invited to acquire ownership stakes in the network. However, the announcement did not identify individual banks that have already committed to participate or provide details on how the network will be funded or governed.
US banks expand shared blockchain infrastructure
BankChain joins a growing number of bank-led blockchain initiatives introduced or expanded since late 2025. These projects bring together major, regional and community banks to build shared infrastructure for moving deposits and payments onchain while keeping activity within the regulated banking system.
In June, The Clearing House announced an onchain money initiative backed by JPMorgan Chase, Bank of America, Citi, BNY and Wells Fargo. The proposed system would support the clearing and settlement of tokenized deposits between banks while connecting blockchain-based activity with existing payment infrastructure.
Unlike independently issued stablecoins, tokenized deposits represent claims on individual banks and remain classified as commercial bank money. This structure allows banks to offer programmable and round-the-clock transfers while keeping customer funds on their balance sheets.
Regional and community banks build their own networks
Regional lenders are also developing separate blockchain infrastructure through Cari, a network created with Huntington, First Horizon, M&T Bank, KeyBank and Old National. Cari launched a minimum viable product in March and had attracted more than 30 participating banks by July.
Community banks have taken a similar approach through the DTX Consortium, established by the Independent Bankers Association of Texas. In June, the association said membership had grown to more than 50 banks as the group prepared a pilot focused on tokenized deposits.
Stablecoin projects adopt consortium models
Stablecoin developers are also increasingly turning to collaborative network structures. In June, Open Standard named more than 140 companies across payments, banking, technology and crypto as participants connected to Open USD, a dollar-backed stablecoin expected to launch later in 2026.
The project plans to offer businesses fee-free minting and redemption while distributing reserve income among participating companies.
Sources:
https://cointelegraph.com/news/us-banking-groups-nationwide-blockchain-network-2027
https://ibat.org/wsj-big-banks-plan-deposit-tokenization-efforts/
