Coinbax Wins PitchFest Prize with Stablecoin Compliance Solution

Coinbax, a startup founded by Peter Glyman, a former executive at Jack Henry, has made significant strides in developing a programmable escrow system for managing stablecoin payments. The company's software uses smart contracts to hold funds in escrow while third-party services verify identity, sanctions screening, and transaction risk.

This innovative approach aims to reduce the risks financial institutions face when moving funds onchain. By providing a trust layer and adding controls to wallet-to-wallet crypto transactions, Coinbax seeks to make stablecoin payments more accessible and secure for banks and other financial firms.