CONCORD, New Hampshire – Today, 39 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.

“Our banks have always been committed to finding new and better ways to serve their customers and communities, while protecting the trust that is at the heart of banking. From the beginning, I have been proud to have New Hampshire at the table as this Alliance has taken shape, working alongside banking leaders from across the country to ensure the needs and perspectives of banks of all sizes are represented. This initiative gives New Hampshire banks a meaningful voice in shaping the future of financial technology and an opportunity to help ensure these innovations benefit their customers and communities through an organization they know and trust, their local bank.” Kristy Merrill, President and CEO, NH Bankers Association and Interim Board Member, BankChain Alliance.

“Banks have always been strongest when they have been able to shape the products and services they provide around the needs of their customers and communities. The opportunity to be involved in this Alliance from the ground up means banks have a voice not only in the technology being developed, but in how it is governed and ultimately used. That kind of bank-led approach helps ensure innovation remains grounded in the principles that have always guided banking and that the value created by new financial capabilities can ultimately flow back to the communities we serve.” Chris Logan, Chair, NH Bankers Association and President and CEO, Bank of New Hampshire.

“Banking is evolving to be always on, support 24/7 services and enable programmable money. As this evolution takes shape, our customers will expect modern products and services that enrich their lives and help their businesses grow. The Alliance is building the capabilities banks will need to meet those expectations, with the security, reliability and flexibility customers expect from their bank. By developing these capabilities now, banks can be ready to put them to work when the time is right.” Jim Kisch, Treasurer, NH Bankers Association and President and CEO, Passumpsic Bank.

Participating State Bankers Associations Include:

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BankChain Alliance:

Barbara Hagenbaugh

barbara@willowoakcommunications.com

Learn more about BankChain Alliance