[Blockchain Bank N3XT Completes Three Rounds of Financing Totaling $72 Million, with Participation from Paradigm and Others] BlockBeats News, December 6: A group of former executives from Signature Bank (which was closed in March 2023) announced today the launch of a new blockchain-driven full-reserve bank aimed at providing programmable dollar payment services. The new bank, named N3XT, holds a Wyoming SPDI (Special Purpose Depository Institution) license, enabling instant settlement through a private blockchain system and allowing businesses to automate various transactions via smart contracts. N3XT has completed three rounds of financing totaling $72 million, with investments from Paradigm, HACK VC, Winklevoss Capital, and other venture capital firms. Unlike traditional banks, N3XT does not issue loans or misuse customer deposits. All deposits are fully backed 1:1 by cash or short-term U.S. Treasury securities, with daily disclosures of reserve status. The leadership team includes: - CEO Jeffrey Wallis: Former Director of Digital Asset Strategy at Signature Bank; - Scott Shay: Co-founder of Signature Bank, designer of its crypto payment system Signet, and also the founder of N3XT.