Points of Focus

• N3XT launches as Wyoming SPDI bank for instant, smart-contract B2B USD payments.  
• The newly launched bank is backed by $50M funding from Paradigm and HACK VC.
• Led by ex-Signature execs, the bank is targeting crypto, logistics and FX clients for a start.

A trio of former Signature Bank executives unveiled N3XT on December 5, 2025, a fully regulated, blockchain-based neobank designed for instant, programmable business-to-business payments. The bank launches, backed by $50 million from Paradigm and HACK VC and licensed under Wyoming’s Special Purpose Depository Institution charter.

We are excited to launch N3XT, a fully reserved, state-chartered bank built for the 24/7 digital economy.

No lending, no leverage, 1:1 cash and T-bills. Instant and transparent USD settlement.

The future of modern banking starts today. For more information, visit…

— N3XT (@N3XTinc) December 4, 2025

What does N3XT do?

“Money should move as fast as information,” said Jeffrey Wallis, CEO and President of N3XT. “We’ve taken the lessons from crypto and applied them to institutional banking to deliver instant, programmable dollar transfers that work 24/7.”

Traditional cross-border business payments still take days to clear, locking up capital and forcing companies to rely on credit lines. N3XT is tackling that bottleneck by combining regulated banking with crypto-grade settlement speed on a private blockchain.

N3XT settles U.S. dollar transactions in real time and supports conditional smart contracts for escrow or multi-party deals. The bank is targeting industries including crypto trading firms, shipping logistics, and foreign exchange providers as inaugural clients.

The Wyoming SPDI charter requires full reserves backed 1:1 by cash or short-term Treasuries, daily attestations, and no lending. This is to ensure stability while enabling 24/7/365 operations.

Paradigm Managing Partner Alana Palmedo, whose firm led N3XT’s funding, added: “The global financial system is becoming internet-native, always on, and borderless. N3XT is building the bank that makes dollars move that way.”

Who runs N3XT?

Led by CEO Jeffrey Wallis (ex-Director of Digital Asset Strategy at Signature), CIO Kyle O’Donnell (ex-VP of Technology for Digital Assets at Signature), and founder Scott Shay (Signature co-founder), N3XT operates as a full-reserve “narrow bank” that cannot lend deposits and must back them 1:1 with cash or short-term Treasuries.

CTO Aurélien Bonnel (ex-Tassat Pay) oversees the tech stack, while CCO Amanda Ortega (ex-Wyoming Banking Commissioner) ensures compliance. The team also includes CFO Tiffiney Peterson (ex-Merrick Bank), Head of Client Services Tom Curley (ex-GLMX), and Head of Strategic Partnerships Viviane Sabat (ex-Mastercard).

Senator Cynthia Lummis (R-WY) welcomed N3XT’s launch on X, writing: “Wyoming is leading the way in securing America’s leadership in financial innovation. Digital assets give us the freedom to make instant, 24/7 transactions.

Wyoming is leading the way in securing America’s leadership in financial innovation.

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/gt2OoW33gK

— Senator Cynthia Lummis (@SenLummis) December 4, 2025

The move comes after Signature’s collapse in 2023 amid SVB contagion. Before the collapse, Scott Shay and team managed $10 billion in crypto deposits. Nearly three years later, N3XT is positioning itself as a safer evolution for that niche.

Bitcoin traded at $92,212 on December 5, down by 2.31% from the last 24 hours.