MIAMI – Coinbax won the $20,000 grand prize at Consensus Miami’s PitchFest after presenting a system designed to help banks and financial firms manage stablecoin payment compliance.
The company, founded by former Jack Henry executive Peter Glyman, builds a programmable escrow infrastructure that adds controls to wallet-to-wallet crypto transactions. The software is intended to reduce the risks that financial institutions face when moving funds on-chain.
“Banks want to use stablecoins for payments, but they need to get their compliance people comfortable with the idea of moving money on-chain,” Glyman said during his presentation.
He described a future in which “wallet addresses [are] associated with each bank account,” with transactions moving between banks, fintech companies, and self-custody wallets. In that environment, he argued, compliance checks need to be done directly on-chain and not just through traditional banking intermediaries.
Coinbax uses smart contracts to hold funds in escrow while third-party services verify identity, sanctions screening, and transaction risk. Funds are settled only after conditions are met.
“We offer a layer of trust,” Glyman said. “We offer a programmable escrow that adds the layer of control to these payments.”
The startup launched in October, closed a seed round in December, and is now available on the Base mainnet, according to Glyman. He said the company is working with banks, escrow firms and wallet providers on pilot programs.
Second place went to Tashi, a decentralized infrastructure project focused on coordinating and managing artificial intelligence systems across distributed networks.
