Miami – Coinbase won the $20,000 grand prize at Consensus Miami’s PitchFest after introducing 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 control over wallet-to-wallet crypto transactions. The software aims to reduce the risks that financial institutions face when transferring funds on the chain.
“Banks want to use stablecoins for payments, but they need to get their compliant people comfortable with the idea of transferring money on-chain,” Glyman said during his presentation.
He described a future where there would be “wallet addresses” [are] Each is linked to a bank account,” with transactions between banks, fintech firms and self-custodial wallets. He argued that in that environment, compliance checks simply need to happen directly on-chain, rather than through traditional banking intermediaries.
Coinbase uses smart contracts to hold funds in escrow while third-party services verify identity, sanctions screening, and transaction risk. Funds are settled only after the conditions are met.
“We provide a trust layer,” Glyman said. “We offer programmable escrow that adds a layer of control to these payments.”
According to Glyman, the startup launched in October, closed a seed round in December, and is already live on the Base mainnet. 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 in distributed networks.