- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
WE-Launch
Blockchain Bank N3XT has completed three rounds of financing totaling $72 million, with participation from Paradigm and others
BlockBeats News, December 6th, a group of former executives of Signature Bank (which closed in March 2023) today announced the launch of a new blockchain-driven full-reserve bank aiming to provide programmable dollar payment services. This new bank is called N3XT, holds a Wyoming SPDI (Special Purpose Depository Institution) charter, achieves instant settlement through a private blockchain system, and allows enterprises to automate various transactions through smart contracts.
N3XT has completed three rounds of fundraising totaling $72 million, with investment from several VCs including Paradigm, HACK VC, Winklevoss Capital, among others. Unlike traditional banks, N3XT does not lend or use customer deposits. All deposits are fully backed by cash or short-term US government bonds on a 1:1 basis, with daily disclosure of reserve status. The leadership team includes:
CEO Jeffrey Wallis: Former Digital Asset Strategy Director at Signature Bank;
Scott Shay: Signature Co-Founder, designer of its cryptographic payment system Signet, and also a Founder of N3XT.
You may also like
Merry Christmas, Caroline Ellison: An Unexpected Early Release from Custody
Key Takeaways Caroline Ellison, former CEO of Alameda Research, will be released from federal custody earlier than expected…
Merry Christmas, Caroline Ellison: A Surprising Early Release from Custody
Key Takeaways Caroline Ellison, the former Alameda Research CEO, will be released from federal custody earlier than scheduled,…
HashKey Secures $250M for New Crypto Fund Amid Strong Institutional Interest
Key Takeaways HashKey Capital successfully secured $250 million for the initial close of its fourth crypto fund, showcasing…
JPMorgan Explores Cryptocurrency Trading for Institutional Clients
Key Takeaways JPMorgan Chase is considering introducing cryptocurrency trading services to its institutional clientele, marking a notable shift…
Palmer Luckey’s Erebor Reaches $4.3B Valuation as Bank Charter Progresses
Key Takeaways: Erebor, a digital bank co-founded by Palmer Luckey, has raised $350 million, bringing its valuation to…
Absorb Polymarket Old Guard, Coinbase Plunges Into Prediction Market Abyss
JPMorgan Explores Crypto Trading for Institutional Clients: A Potential Paradigm Shift
Key Takeaways JPMorgan Chase is contemplating entering the cryptocurrency trading market for institutional clients, signifying a major shift…
Fintechs’ Prediction Market Add-ons and the Risk of User Churn: Insights from Inversion CEO
Key Takeaways Fintech platforms like Robinhood are increasingly adding prediction markets, which may result in higher user churn…
When the Prediction Market Shifts from 'Predicting' to 'Revealing the Truth': Delphi Officially Launches Prediction Market Coverage
Bank of Japan Statement in Full: 25 Basis Point Rate Hike, Further Adjustments Under Consideration
MSCI Considers Exclusion of Strategy from Indexes, Risking Billions in Sell-off
Key Takeaways MSCI’s potential exclusion of companies with digital assets as key balance sheet components poses a sell-off…
Arthur Hayes Receives $32.42 Million Worth of USDC from Major Platforms
Key Takeaways Arthur Hayes, co-founder and former CEO of BitMEX, received $32.42 million in USDC over two days.…
Exploring the Current State and Future Prospects of Cryptocurrency
Key Takeaways The cryptocurrency market continually evolves, characterized by significant volatility and potential for substantial gains and losses.…
TradFi Titan EquiLend Invests in Digital Prime to Connect $40 Trillion Assets with Tokenized Markets
Key Takeaways EquiLend, a major player in securities finance, has made a strategic investment in Digital Prime Technologies…
Uniform Labs’ Multiliquid Addresses a $35 Billion Gap in Tokenized Asset Market
Key Takeaways Innovative Solution: Uniform Labs’ Multiliquid protocol offers a novel approach to address liquidity constraints in the…
U.S. Bank Industry Embraces Blockchain Transition
Key Takeaways The U.S. banking sector is transitioning towards blockchain technology as regulatory discussions turn into implementation. The…
Fed Chair Candidate Upsets Expectations, Powell Surges Ahead: Will "Rate Cuts + Balance Sheet Reduction" Become the New Main Theme?
Aster Introduces Shield Mode: A Protected High-Performance Transaction Mode for On-Chain Traders
Merry Christmas, Caroline Ellison: An Unexpected Early Release from Custody
Key Takeaways Caroline Ellison, former CEO of Alameda Research, will be released from federal custody earlier than expected…
Merry Christmas, Caroline Ellison: A Surprising Early Release from Custody
Key Takeaways Caroline Ellison, the former Alameda Research CEO, will be released from federal custody earlier than scheduled,…
HashKey Secures $250M for New Crypto Fund Amid Strong Institutional Interest
Key Takeaways HashKey Capital successfully secured $250 million for the initial close of its fourth crypto fund, showcasing…
JPMorgan Explores Cryptocurrency Trading for Institutional Clients
Key Takeaways JPMorgan Chase is considering introducing cryptocurrency trading services to its institutional clientele, marking a notable shift…
Palmer Luckey’s Erebor Reaches $4.3B Valuation as Bank Charter Progresses
Key Takeaways: Erebor, a digital bank co-founded by Palmer Luckey, has raised $350 million, bringing its valuation to…
Absorb Polymarket Old Guard, Coinbase Plunges Into Prediction Market Abyss
Popular coins
Latest Crypto News
Customer Support：@weikecs
Business Cooperation：@weikecs
Quant Trading & MM：[email protected]
VIP Services：[email protected]
App