MIAMI – Coinbax won the $20,000 grand prize at Consensus Miami’s PitchFest after pitching a system designed to help banks and financial firms manage compliance for stablecoin payments.
The company, founded by former Jack Henry executive Peter Glyman, builds programmable escrow infrastructure that adds controls to wallet-to-wallet crypto transactions. The software is intended to reduce the risks financial institutions face when moving funds on-chain.
“Banks want to use stablecoins for payments, but they need to familiarize their compliance people with the idea of moving money on-chain,” Glyman said during his presentation.
He described a future where “wallet addresses [are] connected to every bank account,” with transactions moving between banks, fintech companies and self-deposit wallets. In that environment, he argued, compliance checks must be done directly on the chain rather than only through traditional banking intermediaries.
Coinbax uses smart contracts to keep funds in escrow, while third-party services verify identity, sanction screening and transaction risk. Funds are only settled when the conditions are met.
“We provide a layer of trust,” Glyman said. “We provide programmable escrow that adds the layer of control to these payments.”
The startup launched in October, closed a seed round in December and is already live on the Base mainnet, according to Glyman. He said the company is working with banks, custodians and wallet providers on pilot programs.
Second place went to Tashi, a decentralized infrastructure project focused on coordinating and managing AI systems across distributed networks.
