After Signature Bank's closure, the original team launches "N3XT Bank," focusing on blockchain infrastructure and 24/7 programmable payments.

Signature Bank’s original team has established N3XT, a full-reserve bank under a Wyoming SPDI license, combining blockchain technology to offer 24/7 programmable payments. The aim is to eliminate run risks and respond to market demand for crypto-friendly infrastructure.

(Previously: Crisis repeats? New York Community Bank stock price plunges 40%, struggling a year after taking over the failed Signature Bank) (Background: US FDIC makes a U-turn! Denies requiring Signature Bank buyer to “abandon crypto business”)

Wall Street welcomed a familiar name today as Signature Bank founder Scott Shay and former COO Jeffrey Wallis announced the official launch of N3XT, their new bank licensed as an SPDI in Wyoming. Two years ago, the collapse of Silicon Valley Bank and Signature Bank triggered deposit panic. Now, the original team returns with a new model: “no lending, zero run risk, 24/7 transactions,” aiming to solve the banking system’s longstanding liquidity issues through technology.

Full-Reserve Bank Design Avoids Runs N3XT’s balance sheet has only two items: deposits and equivalent cash or ultra-short-term US Treasuries. According to Wyoming SPDI regulations, it is a “full-reserve” or “narrow bank” and does not engage in lending at all. Traditional banks, under fractional reserve systems, make long-term investments with deposits. When interest rates fluctuate rapidly or confidence collapses, asset-liability mismatches can trigger runs. Wallis says N3XT writes confidence into its structure with 1:1 reserves, using the simplest accounting to eliminate liquidity risk.

Blockchain Enables 24/7 Programmable Payments If full-reserve is the shield, blockchain is the sword. N3XT adopts a private permissioned chain, letting funds move beyond SWIFT and Fedwire business hour limitations, truly enabling round-the-clock operations. Corporate clients can set multiple conditions in smart contracts. For example, after a cargo ship arrives at port, a GPS signal signs a blockchain event, and payment is automatically released to the supplier. Previously manual reconciliations and waiting for “bank hours” are now executed instantly by code, directly reducing operating costs for logistics, FX, and crypto businesses.

Political and Regulatory Shift N3XT’s launch at the end of Trump’s first term reflects subtle changes in the regulatory environment. Seed investors include Paradigm and Winklevoss Capital, indicating capital markets are seeking compliant, crypto-friendly financial infrastructure. Hack VC co-founder Alexander Pack commented on X regarding Signature Bank’s closure:

“Signature was the best and largest bank supporting the crypto industry. The previous administration closed it for political reasons. Now, with a new administration, we finally see a true market solution returning.”

Given this regulatory window, Wyoming’s SPDI framework allows N3XT to target institutional clients while maintaining room for state law innovation, effectively finding a compromise between federal and state levels.

Challenges and Significance Ahead N3XT is currently focused on B2B transactions and high-frequency fund management, avoiding the most profitable lending business in the short term. Some observers describe this “safe but non-lending” model as the iPhone of banking—features seem limited but may force big commercial banks to rethink risk management. While N3XT’s scale can’t yet shake JPMorgan or Citibank, its “full-reserve + smart contracts” framework offers the market another path after the 2023 banking crisis.

Silicon Valley often says “software is eating the world.” N3XT attempts to rewrite the banking industry’s foundation with software. If the model succeeds, depositors will no longer face numbers whose health they must guess, but 24/7 liquid, instantly verifiable on-chain certificates. For a Wall Street that has experienced the last wave of bank runs, this is undoubtedly a new sense of security—and an open experiment on the future role of banking.

Related Reports Signature Bank executives secretly sold “$100 million in stock”; Tether transfers US client funds to the Bahamas ARK’s Cathie Wood blasts: The Fed is the real culprit behind SVB and Signature Bank collapses, not crypto The Last Crypto-Friendly Bank: Signature Bank Shut Down by US, Is the Crypto Market Dead? “After Signature Bank’s collapse, the original team launches ‘N3XT Bank’ focusing on blockchain infrastructure and 24/7 programmable payments”—this article was first published on BlockTempo, the most influential blockchain news media.