A new US bank has just turned the traditional business payments scenario on its head. N3XT officially launched today, promising instant and programmable B2B payments in USD at any time of the day or night, eliminating the need for traditional banking time.
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- N3XT bypasses the delays of traditional banking and provides instant, programmable USD payments to businesses around the world.
- The platform enables clients to automate payments, manage market-driven trades, and gain instant access to funds while remaining compliant.
- It is led by fintech veterans and backed by top investors including Paradigm and Winklevoss Capital.
N3XT opens its doors as a fully-reserved, fully regulated narrow bank under the Wyoming Special Purpose Depository Institution charter. Every dollar deposited is backed 1:1 by cash or short-term U.S. Treasury securities, and banks publish their reserve holdings daily.
This platform allows businesses to automatically trigger payments. Have you shipped your crates from Manila to Perth? You can move your funds the moment the delivery is confirmed. Market decline? Collateral deposits can be made automatically. Market surge? Dollars are back in your pocket, freeing up working capital.
Leadership is like a fintech veteran persona.
- Jeffrey Wallis (CEO) of Signature Bank
- Scott Shea (Founder) is behind several successful banks.
- Aurelien Bonnel, Chief Technology Officer (CTO) of Deutsche Bank.
Investors including Paradigm, Pharsalus, HACK VC, and Winklevoss Capital funded the launch.
“The financial system is being rewired to be internet-native, 24/7, and globally responsive,” said Paradigm’s Alana Palmedo. By bringing blockchain under the hood, N3XT hopes that the days of waiting days for money to move may finally be over. Because in a 24/7 global economy, time is literally money.
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