Fractional Banking, Narrow Banking & the Adoption of Stablecoins w/ Scott Shay, Founder of N3XT

Scott Shay is the founder of N3XT and the founder and former chairman of Signature Bank. In this episode, Scott gives a masterclass on fractional reserve banking versus narrow banking and takes us behind closed doors of Signature Bank’s collapse during the 2023 regional banking crisis. He also offers a rarely heard perspective on Wall Street’s rush into crypto, explaining why he believes some of the industry may be moving too fast.

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Please note that this podcast is for informational purposes only and any views shared by anyone on the show are opinions, not financial advice. The host or guests may have a direct or indirect financial interest in content mentioned in this episode.

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TIMESTAMPS:

00:00 - Concerns Over the Embrace of Crypto by Trad-Fi
04:14 - Re-Litigation of Trades and Stablecoins
10:50 - N3XT's Core Operations as a Blockchain
12:20 - Narrow Banking Explained
15:28 - Glass–Steagall Legislation Ethos in Crypto
17:11 - Signature Bank Behind Closed Doors
19:45 - Adoption of Crypto Rails
22:52 - Modern Day Crypto Banking
27:53 - N3xt Bank & Access to Federal Reserve Payment Accounts
30:53 - What Else is Scott Watching?

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