N3XT Launches Blockchain-Powered Narrow Bank in Wyoming

N3XT has launched a U.S.-based narrow bank under Wyoming's Special Purpose Depository Institution charter, marking a significant convergence of traditional finance and decentralized technology. The institution will focus exclusively on B2B transactions, leveraging blockchain for secure, permissionless operations.

The bank's model prioritizes stability—holding customer deposits in a one-to-one reserve ratio with cash or short-term Treasuries. Notably absent are lending services, reflecting a conservative approach amid crypto's volatility.

Wyoming Senator Cynthia Lummis endorsed the move, tweeting: 'Digital assets give us the freedom to make instant, 24/7 transactions. N3XT is building the future of finance.' The state continues to solidify its reputation as a hub for financial innovation.