Core Insights - N3XT has launched as a fully blockchain-powered bank enabling instant, programmable B2B payments in U.S. dollars at any time [1] - The bank operates globally under a Wyoming Special Purpose Depository Institution charter, functioning as a full-reserve bank with deposits backed one-to-one by cash or short-term U.S. Treasuries [2] - N3XT's platform allows businesses to control and execute payments reliably in a 24/7 global economy, utilizing smart contracts and a private blockchain [3] Company Overview - N3XT is designed for interoperability with stablecoins, utility tokens, and other digital assets, reflecting a shift towards an internet-native financial system [4] - The founders of N3XT, Scott Shay and Jeff Wallis, previously built Signature Bank, which was known for supporting the U.S. crypto industry in a regulated manner [6] Investor Support - Paradigm, an investor in N3XT, emphasizes the bank's role in establishing a new standard for global dollar movement [4] - Hack VC, another backer, highlights the straightforward approach of N3XT in holding cash and T-bills while ensuring fast and transparent settlements [5]

Core Insights - The relationship between banks and cryptocurrency has evolved from skepticism to a more supportive stance, with several U.S. banks now offering tailored services for the crypto ecosystem [2][4][22] Group 1: Definition of Crypto-Friendly Banks - A crypto-friendly bank is characterized by its ability to facilitate smooth transactions between traditional finance and digital assets, offering services like secure fiat on-ramps and payment processing [3][10] - These banks provide specialized services such as dedicated accounts and custody solutions for crypto-related businesses, ensuring compliance with regulatory standards [10][12] Group 2: Importance of Crypto-Friendly Banks - The rise of crypto-friendly banks is crucial as they add stability to the financial system, especially after the collapse of major crypto companies like FTX [4][5] - By partnering with banks, traders and investors can experience reduced friction and enhanced security when dealing with digital assets [5][23] Group 3: Top Crypto-Friendly Banks in the USA - **JPMorgan Chase**: Transitioned from a critic of Bitcoin to a supporter, providing services to exchanges like Coinbase and Gemini, and offering a blockchain platform for institutional clients [7][8] - **Bank of America**: Known for its proactive approach to blockchain innovation, it supports transfers to regulated exchanges and provides research on digital assets [11][12] - **Silvergate Bank**: A pioneer in crypto banking, it offers real-time transfers and has historically set standards for integration between banking and trading [13][14] - **Signature Bank**: Developed specialized services for digital assets, enabling real-time blockchain payments, and remains significant despite regulatory scrutiny [15][16] - **Ally Bank**: An online bank that facilitates easy crypto transfers, appealing to retail traders with competitive rates and no monthly fees [17][18] - **Revolut**: A fintech platform allowing users to buy, sell, and hold cryptocurrencies alongside fiat, providing a convenient all-in-one experience [19] - **Goldman Sachs**: Engaged in the crypto space with trading desks and structured products linked to digital assets, signaling a shift in Wall Street's view of cryptocurrencies [20][21] Group 4: Considerations for Choosing a Crypto-Friendly Bank - Factors to consider include transaction fees, integration with exchanges, security measures, regulatory compliance, and customer support [24]