Peter Davey, one of the original architects of The Clearing House’s RTP network, joins as strategic advisor
NEW YORK, Sept. 29, 2026 (GLOBE NEWSWIRE) — Coinbax today announced it is extending its payment controls to instant payments on the Federal Reserve’s FedNow® Service and The Clearing House’s RTP® network. To shape the rollout, Coinbax is opening a design partner program for select community banks and credit unions. Payments veteran Peter Davey joins as a strategic advisor to guide the instant payments work.
Coinbax provides a control, evidence, and compliance layer for instant and irrevocable payments. It sits between an institution’s core or payment hub and the payment rail. Before a payment goes out, Coinbax can screen it, check it against the institution’s liquidity and limit rules, hold it for review, or release it. Every decision is recorded in an audit trail the institution can hand to examiners.
Coinbax first built these controls for stablecoins and tokenized deposits, where a payment is final the moment it settles. Over the past year, the banks and credit unions Coinbax works with asked whether the same protection could extend to the rails they already use. Instant payments carry the same risk. A FedNow or RTP payment settles in seconds, at any hour, and can’t be reversed. The liquidity to fund it has to be there at 2 a.m. on a Sunday.
Most institutions on FedNow today only receive payments. Many have held off on sending because once the money leaves, there’s no way to stop it. Coinbax gives them holds and rules they set themselves, applied before a payment is sent, so they can offer instant payments to customers on their own terms.
Every institution runs a different mix of cores, vendors, and fraud tools, and business customers connect in different ways. Coinbax works alongside those systems instead of replacing them.
“Instant and final is what makes these rails valuable. It’s also why a lot of banks haven’t turned on sending,” said Pete Glyman, founder and CEO of Coinbax. “We saw this problem first with stablecoins. Banks kept asking for the same controls on FedNow and RTP, so we’re building them together.”
Davey has spent more than two decades in banking and payments, including nearly seven years in innovation roles at The Clearing House, where he is credited as one of the original architects of the RTP network. Before that, he led payment strategy, innovation, and industry work at Capital One for more than a decade. Davey is a Board Advisor to the U.S. Faster Payments Council and principal of PaymentsJedi Advisory.
“We built RTP to be instant and final. Now banks and credit unions want to put that speed in their customers’ hands, and they need controls that keep pace with the rail,” said Davey. “Coinbax gives them controls they can explain to their board and their examiners.”
Coinbax applies the same controls, policies, and audit trail across wires, FedNow, RTP, stablecoins, and tokenized deposits. An institution launching instant payments this year can add stablecoins or tokenized deposits later without standing up a second control system.
Over the coming months, Coinbax will work with a small group of banks, credit unions, and technology partners through its design partner program. Interested institutions can contact [email protected] or visit www.coinbax.com.
About Coinbax
Coinbax makes payment controls for banks, credit unions, and regulated fintechs. Its platform lets institutions screen, limit, hold, or release a payment before it becomes final, with one audit trail across wires, FedNow, RTP, stablecoins, and tokenized deposits. Coinbax is a Circle Alliance Partner and a member of Paxos’s Global Dollar Network and Jack Henry’s Fintech Integration Network. Founder and CEO Pete Glyman previously co-founded Geezeo, acquired by Jack Henry. Learn more at www.coinbax.com.
FedNow® is a registered service mark of the Federal Reserve Banks. RTP® is a registered service mark of The Clearing House Payments Company L.L.C. Coinbax is not affiliated with or endorsed by the Federal Reserve Banks or The Clearing House. All other trademarks are the property of their respective owners.
Media Contact
Lacey Hall
Coinbax
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92f8c1bf-77ab-45e1-a4f0-5518b3f177b0
