A new U.S. bank named N3XT has officially launched, aiming to modernize business-to-business (B2B) payments with an instant, programmable platform that operates around the clock. By leveraging blockchain technology, the company offers U.S. dollar transactions that bypass the delays and limited hours of the traditional banking system.

A New Model for Business Banking

N3XT operates as a full-reserve, regulated “narrow bank” under a Wyoming Special Purpose Depository Institution (SPDI) charter. This model ensures that every dollar deposited is backed one-to-one by cash or short-term U.S. Treasuries. To maintain transparency, the bank publishes its reserve holdings daily, providing clients with verifiable proof of funds.

The platform’s core feature is its ability to automate payments based on real-world triggers. For example, funds can be released automatically the moment a shipment is confirmed, or collateral can be deposited instantly in response to market fluctuations. This programmability allows businesses to free up working capital and execute transactions with greater efficiency.

Led by Industry Veterans

The leadership team consists of seasoned fintech professionals, including CEO Jeffrey Wallis from Signature Bank, founder Scott Shay, who has established multiple successful banks, and CTO Aurélien Bonnel, formerly of Deutsche Bank. The launch was supported by a strong lineup of investors, including Paradigm, Pharsalus, HACK VC, and Winklevoss Capital.

Alana Palmedo of Paradigm noted that the financial system is being rebuilt to be internet-native, global, and always active. With its blockchain foundation, N3XT is positioned to address this shift, suggesting the era of waiting days for money to move may be coming to an end in a global economy where time is a critical asset.