What’s happening: On August 18, N3XT, a narrow bank in Cheyenne, opened its N3XT Digital Dollar to wallets it does not bank: public Ethereum, around the clock, non-account holders. Every other US bank deposit token is still a claim you have to be a customer to hold.
Every other bank deposit token is stuck inside its issuer:
The news is not that a bank put dollars on Ethereum. JPMorgan did that in June 2025. The news is that a bank gave up its loan book so those dollars could travel. Here is the product:
