MIAMI – Coinbax won the $20,000 grand prize at Consensus Miami’s PitchFest after showcasing a system designed to help banks and financial firms manage stablecoin payment compliance.
The company, founded by former Jack Henry executive Peter Glyman, is building programmable custodial infrastructure that adds controls to wallet-to-wallet crypto transactions. The software is intended to reduce the risks financial institutions face when transferring funds on-chain.
“Banks want to use stablecoins for payments, but they need to get their compliance officers comfortable with the idea of moving money on-chain,” Glyman said during his presentation.
He described a future where “wallet addresses [are] associated with each bank account”, with transactions flowing between banks, fintech companies and self-custody wallets. In this environment, he argued, compliance checks must be carried out directly on-chain rather than solely through traditional banking intermediaries.
Coinbax uses smart contracts to hold funds on deposit while third-party services verify identity, sanctions control and transaction risk. Funds are only settled once conditions are met.
“We provide a layer of trust,” Glyman said. “We provide a programmable deposit that adds the layer of control to these payments.”
The startup launched in October, closed a funding round in December and is already active on the Base mainnet, according to Glyman. He said the company was working with banks, custody companies 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.
