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BankChain is a platform for banks for exploring, building and implementing blockchain solutions. BankChain was announced on 8th February, 2017 by State Bank of India (SBI), India's largest bank. According to M Mahapatra, deputy managing director, SBI, “Being the largest bank, SBI has taken the lead in initiating blockchain, and we are in talks with banks and other companies for this.“

The goal of Bankchain is to enhance efficiency and bring transparency and security in the banking industry.

The primary purpose of the proposed Bankchain is to facilitate information sharing among the banking institutions that are part of the network. It is expected to help the organizations tackle frauds while streamlining the lending process. The initial application of Bankchain will involve trade finance sector, preventing businesses from presenting merchant discounts bills showing the same invoice to multiple banks.