Coinbax wins $20,000 PitchFest prize at Consensus Miami for stablecoin compliance

Coinbax took the top spot at Consensus Miami with software built to add compliance controls to onchain payments.

What to know:

• Coinbax won the $20,000 grand prize at Consensus Miami’s PitchFest for its programmable escrow system that helps banks manage compliance for stablecoin payments.
• The startup’s software uses smart contracts to hold funds in escrow while third-party services perform identity, sanctions and transaction-risk checks before releasing payments onchain.
• Founded in October by former Jack Henry executive Peter Glyman, Coinbax has raised a seed round, gone live on Base mainnet and begun pilot programs with banks, custody firms and wallet providers.

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 meant to reduce the risks financial institutions face when moving funds onchain.

“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 presentation.

He described a future where “wallet addresses [are] associated with every bank account,” with transactions moving between banks, fintech firms and self-custody wallets. In that environment, he argued, compliance checks need to happen directly onchain rather than only 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 settle only after conditions are met.

“We provide a trust layer,” Glyman said. “We provide programmable escrow that adds the control layer to these payments.”

The startup launched in October, closed a seed round in December and is already live on Base mainnet, according to Glyman. He said the company is working with banks, custody firms 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.

More For You

Stablecoins are entering a new phase of adoption, with large corporations using them for cross-border treasury flows while AI agents begin using blockchain rails for autonomous payments, Bridge and Deus X Capital executives said at Consensus 2026.

What to know:

• Bridge executive Lindsey Einhaus said large corporations are increasingly exploring stablecoins for treasury and cross-border payments.
• AI-powered micropayments may become a major new use case as stablecoin rails reduce transaction costs.
• Deus X Capital CEO Tim Grant said institutions are now "pulling" toward crypto infrastructure as regulation improves, but challenges...

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