North Carolina Bankers Association Supports Launch of Industry-Owned Blockchain Network
Banks of all sizes to be able to safely offer modern payments services, preserving local lending in communities across the country.
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 members are always looking for ways to innovate while maintaining the trust their customers and communities depend on. Participating in this initiative, across many state lines, allows us to help shape emerging technologies in a way that reflects the needs of many banks and the customers and communities they serve and shows the abilities we can create all working together.” Peter Gwaltney, President & CEO, NCBA.