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

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email 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. By Helene Braun | Edited by CoinDesk Updated May 7, 2026, 9:48 p.m. Published May 7, 2026, 9:35 p.m. 1 min read Make preferred on 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. Consensus Miami 2026 More For You AI agents and large corporates will lead the next stablecoin boom, executives say By Krisztian Sandor | Edited by Stephen Alpher 38 minutes ago 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... Read full story Latest Crypto News Privacy and accountability can coexist onchain, say panelists at Consensus Miami 35 minutes ago AI agents and large corporates will lead the next stablecoin boom, executives say 38 minutes ago Coinbase stock declines 5% after missing Q1 estimates on crypto slowdown 58 minutes ago CZ floats Binance.US revival to give U.S. users access to global crypto liquidity 3 hours ago Tether executive warns the 2026 midterms could have 'seismic impact' on crypto industry 3 hours ago Bitmine to slow down ether purchases as it nears accumulation goal, Tom Lee says 3 hours ago Top Stories Donald Trump Jr. denies rumors World Liberty Financial is falling apart 3 hours ago 'DeFi is not dead,' it’s going mainstream with AI agents, crypto executives agree 3 hours ago Aave to expand collateral and listing standards after KelpDAO exploit 7 hours ago Consensus Miami Day 3: Real-time coverage and highlights from on the ground 8 hours ago Bitcoin treasury firms outline $3 trillion opportunity in BTC-backed digital credit at Consensus 9 hours ago Bitcoin tests Bollinger Bands breakout as creator flips bullish on BTC 7 hours ago