Banks Unveil ‘BankChain’ Alliance to Rival Stablecoins Amid CLARITY Act Holdup

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39 banking associations in the United States have jointly formed the “BankChain Alliance” to curb their fears of client and capital flight into blockchain-based stablecoins. Banks compete with stablecoins via on-chain banking Initiated by the Texas Banking Association, the consortium represents thousands of community and mid-sized commercial banks looking to develop a 24/7, nationwide, bank-governed …