Issue link: https://nebusinessmedia.uberflip.com/i/1543333
HARTFORDBUSINESS.COM | FEBRUARY 23, 2026 19 FOCUS | BANKING & FINANCE He also wasn't concerned about the fact that Coinbax is a very young company. "At CI, we invest in very young companies," Roth said. As the state's venture capital arm, CI has two main goals — generate a return on investment that is commensurate with the risk being taken, and economic development benefits for the state. "Obviously, when it's a super young company, it's highly risky and therefore needs to generate a very high return on investment," Roth said, adding that Coinbax has the potential to achieve both goals. He also noted that stablecoins, because their value is linked to an asset, are much more conservative than Bitcoin or other cryptocurrencies. "I think stablecoin can play a predom- inant role deeper in the infrastructure of financial services and payments," Roth said. "It can help to make more efficient, and fast and cheap, the processing of payments." He added that Glyman's industry relationships should help the company gain traction. Coinbax in January joined the Jack Henry Fintech Integration Network, which provides a framework for third- party fintech firms to integrate with Jack Henry's core banking systems. Digital wallets Glyman said he expects Coinbax to grow to as many as 10 employees by the end of 2026, and 15 to 20 the following year. He said the seed funding supports that plan, noting the company relies heavily on artificial intelligence and Google Cloud tools to keep overhead low. "We have a small team, but we're operating like we have 15 people" thanks to AI, he said. Chief Technology Officer Justin Seidl is leading development of Coinbax's administrative platform and integrations across multiple block- chains, along with payment "templates" designed for different transaction types and stages. Glyman said the company is working toward a minimum viable product that can be piloted with customers. His goal is to sign about six clients by year-end and expand from there. Longer term, he wants Coinbax to become a go-to provider for banks and financial services firms seeking what he calls a compliant, programmable layer within their payment systems. Cross-border transactions are an early focus, he said, because international money movement remains costly and complex. He believes broader adoption of digital wallets is coming quickly. "I really believe that in the next three years, every bank account has a (digital) wallet associated with it," he said. "So that's coming." Peter Glyman believes broader adoption of digital wallets is inevitable and will happen quickly. HBJ Photo | Dave Krechevsky Get Paid Fast with Zelle ® for Business Receive customer payments quickly, safely, and easily — right inside the Ion Bank mobile app. TM Member FDIC Scan the QR code or visit ionbank.com/zelle