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About N3XT
N3XT is a Wyoming-chartered SPDI bank offering a tokenized dollar deposit called the N3XT Digital Dollar (NDD). Unlike traditional banks, it is fully reserved, meaning every NDD is backed 1:1 by cash or short-term U.S. Treasuries, avoiding fractional lending and duration mismatches. Its core business is instant, programmable B2B payments on a private blockchain that operates 24/7/365, enabling cross-border transfers in seconds rather than days.
The main pain point N3XT addresses is the inefficiency of legacy correspondent banking (e.g., SWIFT), which suffers from multi-day settlement delays, high fees, and limited operating hours. Meanwhile, stablecoins like USDC offer speed but operate in a regulatory gray area for institutional use. N3XT combines the speed and programmability of blockchain with a regulated banking framework, KYC verification, and full reserve backing, making it suitable for corporate treasuries, digital asset firms, and logistics companies.
In the past six months (Feb–Aug 2026), N3XT received regulatory approval from Wyoming on August 18, 2026, to launch its instant cross-border payment service. The NDD token went live on its infrastructure, supporting 7×24 settlement for global B2B payments. The bank also introduced a "Know Your Wallet" mechanism to pre-screen blockchain addresses, enhancing compliance and security. No major negative events were reported during this period.
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.
In the past six months, N3XT launched NDD, the first bank-issued tokenized USD deposit, fully reserved 1:1 by cash or short-term Treasuries, enabling 24/7/365 instant settlement and ERC-20 programmability, with partners including Blockchain.com and Kraken. NDD then expanded to non-bank clients, allowing enterprises to hold and transact via pre-screened addresses for enhanced compliance.
In July 2026, N3XT introduced the N3XT MCP, bridging AI and banking data with governed read/write capabilities to automate payment drafting and report generation, marking the start of autonomous corporate capital management.
Future focus: expanding the NDD ecosystem from enterprises to any business; deepening AI-blockchain integration for fully autonomous finance; and maintaining real-time reconciliation and full-reserve architecture to eliminate batch-processing delays and achieve absolute settlement finality.
Scott Shay (Founder) - Repeat entrepreneur with 30+ years in financial services; previously founded Signature Bank and served as Chairman.
Jeffrey Wallis (Co-Founder & CEO) - Former SVP at Signature Bank leading digital asset strategy; founder of Noble Markets.
Kyle O'Donnell (Chief Information Officer) - 20+ years in capital markets tech; built low-latency trading systems at RBC, led blockchain payments at Signature Bank and Tassat Pay.
Aurélien Bonnel (Founder & CTO) - 14+ years building secure systems; ex-Tassat Pay and Deutsche Bank; architect of N3XT's real-time settlement platform.