PANews reported on December 22 that Coinbax, a programmable trust layer for stablecoin payments, has completed a $4.2 million seed funding round, aiming to bring features such as custody, strategy execution, and programmable settlement to digital assets.

This funding round was led by BankTech Ventures, with participation from Connecticut Innovations, Paxos, SpringTime Ventures, and companies from the banking, payments, and digital asset infrastructure sectors.