A pioneering U.S. bank is revolutionizing traditional business payments: N3XT officially debuted today, offering instant, programmable B2B payments in U.S. dollars around the clock, obliterating conventional banking hours.
Summary
- N3XT provides instant, programmable U.S. dollar payments for businesses globally, eliminating traditional banking delays.
- The platform enables clients to automate payments, manage market-based transactions, and access funds instantly while maintaining compliance.
- Founded by fintech experts and supported by prominent investors such as Paradigm and Winklevoss Capital.
N3XT operates as a full-reserve, fully regulated narrow bank under a Wyoming Special Purpose Depository Institution charter. Each dollar deposited is fully backed by cash or short-term U.S. Treasuries, with daily disclosure of reserve holdings.
The platform permits businesses to automate payment triggers: when a crate is shipped from Manila to Perth, funds can transfer as soon as delivery is confirmed. In case of market dips, collateral deposits can be executed automatically. If markets spike, dollars return to your account, enhancing working capital.
Leadership features renowned fintech professionals:
- Jeffrey Wallis (CEO) formerly from Signature Bank
- Scott Shay (founder) known for creating multiple successful banks
- CTO Aurélien Bonnel from Deutsche Bank.
Investors including Paradigm, Pharsalus, HACK VC, Winklevoss Capital, and others financed the launch.
“The financial system is being re-wired to be internet native, 24/7/365 and global,” said Paradigm’s Alana Palmedo. N3XT aspires to leverage blockchain technology to eliminate the waiting time for funds transfer, recognizing that in a 24/7 global economy, time equates to money.
