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About N3XT
N3XT is a full-reserve U.S. bank running on a blockchain ledger with a Wyoming SPDI charter, providing round-the-clock dollar payments for cross-border businesses. Deposits are backed one-to-one by cash and short-term Treasuries, no lending takes place, and payments are booked and settled instantly inside the bank's own closed ledger rather than through correspondent debits and batch clearing windows. Clients encode payment conditions through an API so funds move automatically once terms are met, covering trade settlement, collateral top-ups and cash pooling.
Its position is the dollar interface between stablecoin issuers and commercial banking: regulated issuers use it for fiat on- and off-ramps, trading firms park collateral and shift it in and out with market conditions, and exporters receive local currency. Every liability has a matching asset, with portfolio holdings published daily.
N3XT, a blockchain-based full-reserve bank, was founded by former Signature Bank executives after that institution's collapse in March 2023. The company obtained a Wyoming SPDI (Special Purpose Depository Institution) charter, positioning itself as a regulated alternative to traditional banking. Its core innovation lies in issuing the N3XT Digital Dollar (NDD), a tokenized deposit fully backed by cash or short-term U.S. Treasuries, with daily reserve disclosure. The bank enables 24/7 programmable, real-time USD settlement for B2B payments, removing reliance on legacy batch processing. A significant milestone was the completion of three financing rounds totaling $72 million, with participation from Paradigm, HACK VC, and Winklevoss Capital, validating institutional confidence in its model. The launch of the N3XT MCP (Model Context Protocol) server represents another strategic step, allowing corporate AI assistants to access live bank data and execute governed actions, signaling a move toward agentic banking. These developments collectively mark N3XT's progress in bridging decentralized finance with regulated banking infrastructure.
Launch collaborators included Blockchain.com, Kraken, Ripple Prime, Utila, Zodia Markets, FRNT Financial and Halborn.
On 18 August N3XT extended NDD beyond its own client base, letting businesses pay non-custodial onchain addresses, first for client-nominated addresses and then for any business submitting an address for allowlisting, replacing reactive denylists with pre-screening and supporting atomic swaps and multi-party payment waterfalls.
Future strategy and roadmap: After extending NDD usage to non-custodial on-chain addresses, N3XT will open its allowlist from client-specified addresses to any business submitting addresses for whitelisting, replacing after-the-fact bans with pre-screening. The team is deepening integration with launch partners Blockchain.com, Kraken and Ripple Prime, supporting atomic swaps and multi-party payment waterfalls, and keeps 1:1 reserves under a Wyoming special-purpose depository institution license. It also plans to widen exchange and custodian integration and bolster reserve transparency and banking recourse, making the compliant dollar deposit token a cross-border B2B settlement standard.
N3XT was founded in 2025 in Cheyenne, Wyoming by Scott Shay and Jeffrey Wallis, both alumni of Signature Bank. Shay is a serial bank builder: he started Bank United of Texas in 1988, founded Merrick Bank in 1997 and launched Signature Bank in 2001, growing it past a hundred billion dollars in assets while designing Signet, an early round-the-clock blockchain payment system. Wallis is founder, CEO and president, having previously run digital asset and Web3 strategy at Signature.
Technology sits with founder and CTO Aurélien Bonnel, who spent more than a decade on high-availability payment systems at Deutsche Bank and TassatPay, while founder and CIO Kyle O'Donnell came from the low-latency trading team at Royal Bank of Canada. CFO Tiffiney Peterson spent twenty-six years at Merrick Bank, and compliance chief Amanda Ortego arrived from the Wyoming Division of Banking.
In August 2026, N3XT won Wyoming regulatory approval to settle cross-border payments in tokenised dollars under its Wyoming Special Purpose Depository Institution charter, a full-reserve, non-lending state bank licence supervised by the Wyoming Division of Banking.