MIAMI – Coinbax won a $20,000 grand prize at Consensus Miami’s PitchFest after launching a system designed to help banks and financial companies manage compliance for stablecoin payments.
Founded by former Jack Henry executive Peter Glyman, the company is building programmable custody infrastructure to add control to wallet-to-wallet crypto transactions. The software is designed to reduce the risks financial institutions face when moving funds on-chain.
“Banks want to use stablecoins for payments, but they need to get compliance people to accept the idea of moving funds on-chain,” Gleiman said in his speech.
He described a “wallet address [are] He believes that in this environment, compliance checks need to be conducted directly on-chain and not just through traditional banking intermediaries.
Coinbax uses smart contracts to escrow funds, while third-party services verify identities, sanctions screening, and transaction risk. Funds can only be settled once conditions are met.
“We provide a layer of trust,” Gleiman said. “We offer programmable escrow to add a layer of control to these payments.”
According to Glyman, the startup launched in October, completed a seed round of financing in December, and has already gone live on the Base mainnet. He said the company is working on pilot projects with banks, custodians and wallet providers.
Second place goes to Tashi, a decentralized infrastructure project focused on coordinating and managing artificial intelligence systems across distributed networks.