Coinbax Launches Instant Payment Controls for FedNow and RTP Networks

Coinbax is extending its payment control and compliance layer to the FedNow Service and the RTP network, addressing the liquidity and reversal risks that have hindered many financial institutions from enabling "send" capabilities. By integrating these controls across traditional and digital rails, the firm allows banks to manage irrevocable payments with real-time screening and automated audit trails.

What was announced

Coinbax has launched an extension of its platform to support instant payments on the Federal Reserve's FedNow Service and The Clearing House's RTP network. The platform functions as a control and compliance layer situated between an institution’s core banking system or payment hub and the specific payment rail. This positioning allows the software to screen transactions, verify them against liquidity and limit rules, and either hold them for manual review or release them for settlement.

To guide the rollout, Coinbax has established a design partner program specifically for community banks, credit unions, and technology partners. The initiative is supported by the appointment of Peter Davey as a strategic advisor. Davey is a veteran of the payments industry, having served nearly seven years in innovation roles at The Clearing House where he was a primary architect of the RTP network. His background also includes over a decade at Capital One and a role as a Board Advisor to the U.S. Faster Payments Council.

The expansion addresses a specific market friction: while many institutions have joined FedNow, a significant number remain in a "receive-only" capacity. Because instant payments settle in seconds and cannot be reversed, banks face significant risks regarding 24/7 liquidity and fraudulent outflows. Coinbax provides a unified audit trail across wires, FedNow, RTP, stablecoins, and tokenized deposits, allowing institutions to apply consistent policies regardless of the underlying rail.

"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."

Pete Glyman, founder and CEO of Coinbax.

The companies involved

Coinbax provides payment control infrastructure for banks, credit unions, and regulated fintech companies. The firm’s platform is designed to work alongside existing cores and fraud tools rather than replacing them. Coinbax is a Circle Alliance Partner and a member of the Paxos Global Dollar Network, as well as Jack Henry’s Fintech Integration Network. The company was founded by Pete Glyman, who previously co-founded Geezeo, a personal financial management company that was later acquired by Jack Henry.

The Clearing House (TCH), which operates the RTP network, is a major pillar of the U.S. banking system, owned by the world's largest commercial banks. Its RTP network was the first real-time payment rail in the United States, designed to provide 24/7/365 instant settlement. The Federal Reserve's FedNow Service is the government-operated counterpart to RTP, launched to provide similar instant settlement capabilities to a broad range of financial institutions across the country. Both rails share the characteristic of being "instant and final," which necessitates the type of granular control layer Coinbax provides.

What FF News has reported before

FF News has closely followed the evolution of the real-time and digital asset landscape. In September 2026, we covered how Coinbax Deposits Empowers Banks to Accept and Convert Stablecoin Deposits, marking the firm's initial focus on blockchain-based finality. We also reported on the institutional shift toward digital assets when TCH and Quant Partner to Power US Tokenized Deposit Network for Banks. The infrastructure for these rails continues to mature, as seen with XMLdation Launches Buddy Bank™: A Market-First RTP Payments Testing Simulator for U.S. Banks and the certification of firms like Finzly, as noted in Finzly Achieves RTP Network Certification for Request for Payment to Drive Instant Pay-by-Bank Adoption.

What this means

The "receive-only" bottleneck has been the primary inhibitor for the FedNow and RTP ecosystems. For many community banks, the prospect of 2 a.m. irrevocable outflows is a compliance and liquidity nightmare that legacy core systems were never designed to handle. By treating traditional instant rails with the same "finality logic" as stablecoins, Coinbax is signaling a convergence in how banks must manage risk. This puts significant pressure on legacy core providers to either modernize their real-time "hold" capabilities or accept that third-party control layers will become the standard interface for the modern money movement. The industry is moving toward a reality where the rail matters less than the unified control layer sitting above it.