Seed Funding Announcement
Coinbax has raised $4.2 million in seed funding to accelerate development of its programmable trust layer for stablecoin payments. The round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and other banking and payments industry leaders.
Use of Funds
The capital will support:
- Engineering Development: Accelerating platform build-out and feature expansion
- Infrastructure Integrations: Connecting with custody and wallet infrastructure providers
- Design Partner Onboarding: Working with commercial banks and enterprise payments teams
Platform Capabilities
The Coinbax platform operates on Base and Solana blockchains, supporting major stablecoins including USDC, USDG, RLUSD, and PYUSD, with planned expansion to additional networks.
Core features include:
- Programmable escrow structures
- Automated multi-party approvals
- Conditional settlement for milestone-based payments
- Direct integration with AP/AR and ERP systems
- Built-in audit trails and regulatory oversight
Key Quotes
“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.” — Peter Glyman, Founder and CEO
“What matters for banks is not speed alone, but having clear rules, accountability, and oversight. Coinbax gives financial institutions a practical way to use stablecoins inside real banking workflows.” — Carey Ransom, BankTech Ventures Managing Director
About the Investors
BankTech Ventures is a strategic investment fund focused on technology companies serving community and regional banks.
Connecticut Innovations is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative companies.
Paxos is a regulated blockchain infrastructure company building a new financial system.
SpringTime Ventures is a venture capital firm investing in early-stage fintech and enterprise software companies.