3 Ex-Signature Execs Start Blockchain Bank

Former Signature Bank executives launch blockchain-based bank

Former Signature Bank executives are launching a new blockchain-based bank focused on facilitating instant, around-the-clock U.S. dollar payments, nearly three years after the collapse of the New York-based bank known for serving cryptocurrency clients.Read MoreThe post Former Signature Bank executives launch blockchain-based bank  first appeared on The Who Dat Daily.

3 ex-Signature execs start blockchain bank

N3XT, which opened Thursday, marks Signature founder Scott Shay’s fourth foray into launching a bank.

Blockchain-Driven N3XT Bank Promises Instant 24/7 Dollar Payments

A new player in financial services, N3XT, has formally launched with the goal of reshaping business-to-business payments through blockchain technology. The company positioned itself as a full-reserve bank that operates entirely on a blockchain framework, allowing U.S. dollar transactions to settle instantly at any time of day. By establishing a model where every dollar deposited is fully backed by cash or short-term U.S. Treasuries, N3XT introdu…