Coinbax, the programmable trust layer for stablecoin payments, today announced $4.2 million in seed funding to bring escrow, policy enforcement, and programmable settlement to digital assets. The round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and industry leaders across banking, payments, and digital asset infrastructure.
While traditional instant payment rails like RTP and FedNow have improved settlement speed, financial institutions still lack the programmable control layer necessary to deploy stablecoins within their existing risk and compliance frameworks. Coinbax solves this by introducing institutional-grade programmable Controls multi-party approvals, spend limits, conditional releases, and policy enforcement that execute in real-time while maintaining the auditability and oversight banks require.
The seed funding will accelerate engineering development, deepen integrations with custody and wallet infrastructure providers, and support onboarding of design partners across commercial banking and enterprise payment operations. Coinbax is building on Base and Solana with support for major stablecoins including USDC, USDG, RLUSD, and PYUSD, and planned expansion to additional chains as well as GENIUS Act-compliant stablecoins.
“Within the next three years, every bank account will have a wallet. Stablecoins and tokenized deposits will become part of every bank’s core infrastructure. To get there, institutions need tools that feel familiar: clear rules, approvals, and workflows they can trust. Controls make that possible,” says Peter Glyman, Founder and CEO of Coinbax. `Built on a dual on-chain/off-chain architecture, Coinbax brings structure and governance to programmable payments. Coinbax introduces Controls—modular smart-contract logic that enforce payment policies aligned with institutional workflows:
- Multi-party approvals for treasury operations
- Conditional settlement for milestone-based payments
- Automated spend limits and policy enforcement
- Escrow structures for commercial transactions
- Direct integration with AP/AR and ERP systems
The platform maintains comprehensive audit trails, regulatory oversight capabilities, and compliance documentation while enabling the speed and programmability of blockchain-based settlement.
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