What Is the 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.
How Will the Funds Be Used?
Engineering Development
Accelerating platform build-out and feature expansion to support additional stablecoins, blockchains, and enterprise use cases.
Infrastructure Integrations
Connecting with custody and wallet infrastructure providers to enable seamless institutional deployment.
Design Partner Onboarding
Working with commercial banks and enterprise payments teams to refine the platform based on real-world institutional requirements.
What Are the 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
- 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
What Do the Investors Say?
“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
Who Are the Investors?
BankTech Ventures
A strategic investment fund focused on technology companies serving community and regional banks. Their involvement signals strong interest from the traditional banking sector in stablecoin infrastructure.
Connecticut Innovations
Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative companies.
Paxos
A regulated blockchain infrastructure company building a new financial system. Paxos operates stablecoin and tokenization infrastructure for major financial institutions.
SpringTime Ventures
A venture capital firm investing in early-stage fintech and enterprise software companies.
Frequently Asked Questions
Why did BankTech Ventures lead this round?
BankTech Ventures focuses on technology serving community and regional banks—exactly the institutions Coinbax is built to serve. Their leadership signals validation of the bank-focused approach.
What stablecoins does Coinbax support?
Currently USDC, USDG, RLUSD, and PYUSD on Base and Solana blockchains, with planned expansion to additional stablecoins and networks based on institutional demand.
What does “programmable trust layer” mean?
The programmable trust layer enables institutions to add compliance controls, approval workflows, and conditional logic to stablecoin transactions—the operational controls required for institutional adoption.
How does Coinbax integrate with existing banking systems?
Coinbax provides APIs that connect with custody providers, core banking platforms, and enterprise systems (AP/AR, ERP), enabling institutions to incorporate stablecoin capabilities into existing workflows.