Coinbax walked away with the $20,000 grand prize at Consensus Miami’s PitchFest for a solution aimed squarely at a growing pain in crypto finance: making stablecoin payments safe and compliant for banks and other regulated firms.
Founded by Peter Glyman, a former Jack Henry executive, Coinbax is building programmable escrow infrastructure that layers compliance controls onto wallet-to-wallet crypto transfers. The core idea is to let financial institutions move funds onchain while keeping the same kinds of identity, sanctions and risk checks they expect from traditional banking rails.
“Banks want to use stablecoins for payments, but they need to get their compliance people comfortable with the idea of moving money onchain,” Glyman said during his PitchFest presentation. He described a future in which wallet addresses are effectively mapped to bank accounts and transactions flow between banks, fintechs and self-custody wallets — an environment where compliance checks need to run onchain, not only through offchain intermediaries.
Coinbax’s approach uses smart contracts as escrow: funds are held while third‑party services perform identity verification, sanctions screening and transaction risk assessments. Only when the contract’s conditions are satisfied do the funds settle, providing what Glyman called “a trust layer” — programmable controls that reduce counterparty and compliance risk in onchain payments.
The startup launched in October, closed a seed round in December, and is already live on Base mainnet. Glyman said Coinbax is running pilot programs with banks, custody firms and wallet providers as it scales its integrations.
Coming in second at PitchFest was Tashi, a decentralized infrastructure project focused on coordinating and managing AI systems across distributed networks.
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