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Coinbax has completed a $4.2 million seed funding to build stablecoin payment infrastructure on Base and Solana.
[Block Rhythm] Coinbax has just completed a $4.2 million seed funding round. This stablecoin payment infrastructure project focused on the Base and Solana ecosystems attracted lead investment from BankTech Ventures, with follow-on investments from Connecticut Innovations, Paxos, SpringTime Ventures, and others.
There are many highlights in the post-financing plan—Coinbax intends to do three things in the direction of digital assets: first, build a custody solution; second, develop policy enforcement tools; and third, launch programmable settlement functions. At the same time, it will also strengthen deep integration with custody and wallet infrastructure providers.
From the perspective of the investment lineup, the participation of compliant stablecoin players like Paxos indicates that this project has potential in the eyes of institutions. The improvement of stablecoin infrastructure could be a significant boost for the entire payment sector.