Signature Bank Founders Are Back: Meet N3XT

[ed]

A year after Signature Bank’s collapse, its former executives have launched N3XT, a Wyoming-chartered, blockchain-powered bank built for 24/7 instant settlement.
Using a private blockchain and smart-contract–based payment rails, N3XT aims to make money move “as seamlessly as information.”
No lending, no rehypothecation — just 1:1 reserves in cash and short-term Treasurys and daily transparency reports.

[Nahid Hossen]

The founders are aiming to rebuild trust with a new digital-first institution.

[Nahid Hossen]

N3XT wants to solve the pain points that plagued earlier banking models.