Scott Shay, founder of Signature Bank and creator of its Signet payment network, stated that as digital assets become further integrated into mainstream finance, large U.S. banks may leverage blockchain-based payment rails to gain market share at the expense of small and medium-sized banks. Shay noted that small and medium-sized banks could face greater risks due to their slower adoption of blockchain-based payment infrastructure. He is currently re-entering the banking sector through N3XT, a Wyoming-chartered special purpose depository institution that operates as a full-reserve bank based on blockchain technology, allowing businesses to make programmable dollar payments 24/7.