Coinbax has raised $4.2 million in seed funding.
The stablecoin-focused payments fintech announced that the round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and other banking and payments industry leaders.
The capital will support engineering development, infrastructure integrations and design partner onboarding.
“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, the company’s founder and CEO, said in the release.