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A group of career banking and payments experts has joined together to create N3XT, a blockchain-based payments neobank. The team includes three former executives of Signature Bank, a now-shuttered depository institution that was responsible for the third-largest banking failure in U.S. history.
What's the Scoop?
- Built for Payments: N3XT is built around a private, permissioned blockchain that can settle transactions immediately between parties without relying on outside financial institutions to clear payments.
- Smart Contract Functionality: As a blockchain, N3XT will come equipped with smart contracts. Clients can take advantage of this functionality to execute transactions once specific conditions are met.
- Wyoming Registered: N3XT is a full-reserve, "narrow" bank that is licensed to operate globally under a Wyoming Special Purpose Depository Institution charter. It cannot lend funds, will publish daily reserve holdings, and must back every dollar of deposits by cash or short-term treasuries.
- Big Backers: The firm has raised three rounds of financing from leading investors including Paradigm, HACK VC, and Winklevoss Capital. It is launching with inaugural clients from the crypto, shipping/logistics, and foreign exchange industries.
Wyoming is leading the way in securing America’s leadership in financial innovation.
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Digital assets give us the freedom to make instant, 24/7 transactions. @N3XTinc is building the future of finance, and it all starts in the Cowboy State.
🔗https://t.co/me3Yrw3tED pic.twitter.com/gt2OoW33gKSenator Cynthia Lummis (@SenLummis) December 4, 2025
