USA Banks Plan National Blockchain Network for 2027
BITmarkets Team
Sep 09, 2026
The participating associations represent thousands of financial institutions across the United States. BankChain said banks nationwide will be invited to take ownership stakes in the network. However, the announcement did not identify any individual banks that have already committed to participate or provide details on how the network will be funded and governed.
US banks build shared blockchain infrastructure
BankChain joins a growing number of bank-led blockchain projects that have emerged or expanded since late 2025. These initiatives bring together large, regional and community banks to develop 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 supported by JPMorgan Chase, Bank of America, Citi, BNY and Wells Fargo. The planned network would enable banks to clear and settle tokenized deposits while connecting blockchain-based transactions with existing payment infrastructure.
Unlike independently issued stablecoins, tokenized deposits represent claims against individual banks and retain their status as commercial bank money. This allows institutions to offer programmable, round-the-clock transfers while keeping customer funds on their own balance sheets.
Regional and community banks launch similar networks
Regional lenders are developing a separate blockchain network through Cari, which was built with Huntington, First Horizon, M&T Bank, KeyBank and Old National. Cari introduced a minimum viable product in March and had attracted more than 30 participating banks by July. Community banks have also formed the DTX Consortium through the Independent Bankers Association of Texas. The association said in June that membership had grown beyond 50 banks as the group prepared a pilot focused on tokenized deposits.
Stablecoin projects adopt Consortium models
Stablecoin developers are also increasingly turning to industry consortium structures. In June, Open Standard named more than 140 companies across the banking, payments, technology and crypto sectors in connection with Open USD, a dollar-backed stablecoin expected to launch later in 2026. The project plans to offer businesses fee-free minting and redemption while sharing reserve income with participating companies.
Sources:
https://cointelegraph.com/news/us-banking-groups-nationwide-blockchain-network-2027
https://ibat.org/wsj-big-banks-plan-deposit-tokenization-efforts/
