South 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

Today, 38 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.

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.

“The banking industry has always embraced innovation while maintaining the trust their communities depend on. Participating in this initiative allows us to help shape emerging technologies in a way that reflects the needs of all banks and the customers and communities they serve,” said Fred Green, President and CEO, South Carolina Bankers Association.

Participating State Bankers Associations Include:

Alabama Bankers Association
New Hampshire Bankers Association
Arkansas Bankers Association
New Jersey Bankers Association
Connecticut Bankers Association
North Carolina Bankers Association
Delaware Bankers Association
North Dakota Bankers Association
Florida Bankers Association
Ohio Bankers League
Georgia Bankers Association
Oklahoma Bankers Association
Idaho Bankers Association
Indiana Bankers Association
Iowa Bankers Association
Kansas Bankers Association
Maine Bankers Association
Maryland Bankers Association
Massachusetts Bankers Association
Michigan Bankers Association
Minnesota Bankers Association
Mississippi Bankers Association
Missouri Bankers Association
Nebraska Bankers Association
Nevada Bankers Association
Oregon Bankers Association
Pennsylvania Bankers Association
Rhode Island Bankers Association
South Carolina Bankers Association
South Dakota Bankers Association
Tennessee Bankers Association
Texas Bankers Association
Utah Bankers Association
Vermont Bankers Association
Virginia Bankers Association
Washington Bankers Association
Wisconsin Bankers Association
Wyoming Bankers Association