Former leaders of the shuttered crypto-friendly Signature Bank have returned with a new venture built around always-on settlement.

Their new institution, N3XT, is a state-chartered, blockchain-based bank designed to move money at any hour, with near-instant finality.

N3XT Unveils 24/7 Payments Platform Built on Private Blockchain

Announced on Thursday, N3XT says it will operate on a private blockchain that allows transactions to clear around the clock.

The platform supports programmable payments through smart contracts and is built to work alongside stablecoins, utility tokens and other digital assets.

The institution will run under Wyoming’s Special Purpose Depository Institution framework, a charter that allows fully reserved, non-lending banks designed to custody digital assets.

The effort is led by Signature Bank founder Scott Shay, whose former institution was one of three crypto-linked banks that collapsed during the 2023 banking turmoil.

Signature, alongside Silicon Valley Bank and Silvergate, fell after deposit outflows accelerated and market confidence evaporated.

The Federal Deposit Insurance Corporation seized Signature in March 2023, citing liquidity pressure, concentration risks and a rapid run by large uninsured depositors.

N3XT’s leadership includes another Signature veteran, Jeffrey Wallis, previously the bank’s director of digital asset and Web3 strategy. Wallis will serve as CEO and president. He said the new institution is built around the idea that financial transfers should be as frictionless as sending digital information.

“We’re applying crypto innovations to banking to deliver instant, programmable payments for institutional clients,” Wallis said.

To avoid the vulnerabilities that contributed to Signature’s downfall, N3XT will not offer lending. The bank says all deposits will be backed one-to-one by cash or short-term U.S. Treasurys, with daily disclosures of reserve holdings.

It’s been a long time coming. Today, I am extremely excited to announce the launch of N3XT.

As CEO, I could not be prouder of the team that brought this vision to life. Together, we've built a safer, faster, more modern foundation for how businesses move money. https://t.co/TrDpVJYIo5

— Jeffrey Wallis (@jeffwallis) December 4, 2025

That structure mirrors elements of stablecoin issuers, while keeping the institution within the contours of a regulated bank charter.

The firm is currently onboarding businesses from several industries, including crypto, foreign exchange, shipping, logistics and other sectors that depend on continuous settlement.

N3XT has drawn notable support from the venture community. The company completed three funding rounds with backing from Winklevoss Capital, Paradigm, and HACK VC.

HACK co-founder Alexander Pack wrote on X that the firm is backing N3XT as it emerges from stealth, praising its founders for returning to the industry after Signature’s closure.

European Banking Giants Unite to Launch Euro Stablecoin

As reported, ten of Europe’s largest banks have formed a consortium to issue a euro-backed stablecoin by mid-2026, marking the region’s strongest attempt yet to push back against U.S. dollar dominance in digital finance.

The group, which includes BNP Paribas, ING, UniCredit, CaixaBank, Danske Bank and others, has created an Amsterdam-based entity, Qivalis, to develop a MiCA-compliant digital payment instrument.

Euro-denominated stablecoins remain negligible today, representing just $649 million compared to a market almost entirely controlled by dollar-pegged tokens.

Qivalis has put together a heavyweight leadership team as it moves through regulatory approvals. Former Coinbase Germany chief Jan-Oliver Sell will serve as CEO, with ING veteran Floris Lugt as CFO.

The group has already applied for an electronic money institution license with the Dutch Central Bank, and says more European lenders may still join the initiative.

The post Former Signature Bank Executives Launch N3XT, a Blockchain-Based 24/7 Payments Bank appeared first on Cryptonews.

Bitcoin Magazine

Harvard Triples Bitcoin ETF Stake, Makes It Largest Public Holding

Harvard University’s endowment has been quietly and massively increasing its Bitcoin holdings. 

The university bought more than 6.8 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) as of September 30. The investment is valued at $442.8 million.

This marks a 257% increase from Harvard’s previous holding of 1.9 million shares, worth $116.6 million. The move makes IBIT Harvard’s largest publicly disclosed position. It is also the biggest single-quarter increase in its holdings, according the the filing. 

Harvard Management Company runs the university’s $57 billion endowment. The Bitcoin ETF now represents just under 1% of total endowment assets. 

Bloomberg ETF analyst Eric Balchunas said it is “super rare” for a university to invest in an ETF. He added that the stake is “as good a validation as an ETF can get.”

FUN FACT: Harvard University holds more in Bitcoin ETFs than it holds shares in Microsoft. pic.twitter.com/Lzblc1gjcP

— Bitcoin Magazine (@BitcoinMagazine) November 15, 2025

Despite Bitcoin’s recent price drop below $93,000, the move signals growing institutional acceptance. IBIT remains the world’s largest spot Bitcoin ETF, with nearly $75 billion in net assets.

Harvard also increased its gold exposure. The endowment nearly doubled its holding in SPDR Gold Shares (GLD) to 661,391 shares, worth $235.1 million. 

Other major holdings remain in U.S. tech companies, including Amazon, Microsoft, Meta, and Alphabet. The endowment also added positions in Klarna ($16.8 million) and Taiwan Semiconductor ($59.1 million).

The increase in Bitcoin and gold allocations highlights Harvard’s focus on portfolio diversification. Analysts see this as part of a wider institutional trend. Bitwise analyst Ryan Rasmussen said the stake may grow to 1% or even 5% as peer institutions follow.

Institutions other then Harvard are buying Bitcoin

Other institutions are also increasing Bitcoin ETF exposure. Emory University disclosed a 91% increase in its Grayscale Bitcoin Mini Trust ETF holdings, totaling over $42 million.

An Abu Dhabi sovereign wealth fund, Al Warda Investments, reported a 230% increase in IBIT holdings, now valued at $517.6 million.

Harvard’s Bitcoin move is rare but significant. Institutional investors traditionally avoid ETFs, preferring private equity, real estate, or direct investments. 

The university’s entry could encourage similar strategies across other endowments, pension funds, and sovereign wealth funds.

At the time of writing, Bitcoin’s price is nearing $92,000, putting it almost 30% below its all-time high near $126,000 — a level referenced in earlier market coverage. The drop follows weeks of sharp selling, with BTC sliding from the mid-110,000s — where it was trading when panic hit and rumors swirled about large institutional outflows — to its current lows.

This post Harvard Triples Bitcoin ETF Stake, Makes It Largest Public Holding first appeared on Bitcoin Magazine and is written by Micah Zimmerman.