There’s a new kind of trust being built on the blockchain, and this time, it’s programmable. Coinbax just locked in a $4.2 million seed round led by BankTech Ventures, with backing from Connecticut Innovations, Paxos, SpringTime Ventures, and leaders across banking and payments. That’s not just capital, it’s validation from the institutions that actually keep the economy breathing.
Founder and CEO Peter Glyman knows this game. After co-founding Geezeo and steering it into Jack Henry’s orbit, he learned what real financial infrastructure looks like: tight controls, precision, and accountability. Now, he’s teaming up with CTO Justin Seidl, the former founder of Sequoir, who’s been building compliant digital asset platforms since before the term was cool. Together, they’re not just bridging crypto and banking, they’re soldering the connection shut.
Coinbax is creating what it calls a “programmable trust layer” for institutional stablecoin payments. Think of it as a control system that sits above blockchains like Base and Solana, adding guardrails, escrow, conditional release, and automated compliance checks. It’s the missing ingredient for stablecoin adoption in regulated finance. In an industry obsessed with “trustless” tech, Coinbax flips the lens: trust isn’t the weakness, it’s the feature.
The company’s roots stretch from NY to its Essex, Connecticut engineering hub, where the code is built to handle the rigor of real-world finance. They’re already integrated with USDC, USDG, RLUSD, and PYUSD, giving banks a path to transact digitally without surrendering to chaos. And through its early access program, Coinbax is working directly with commercial banks and enterprise payment teams, the ones who move serious money and need it to move safely.
What makes this funding so interesting isn’t just the number. It’s the signal it sends. The ecosystem has evolved from “move fast and break things” to “move smart and control everything.” BankTech Ventures didn’t just write a check; they placed a bet that the future of finance depends on programmable control layered over instant settlement.
Coinbax isn’t chasing headlines. It’s building plumbing: clean, precise, reliable. The kind of infrastructure that lets innovation breathe without burning down the house. Glyman and Seidl aren’t chasing hype; they’re engineering trust as a service. And in a financial world where every transaction is a test of confidence, programmable trust might just be the new currency.
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