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The Coinbax Execution Framework

The four-phase payment lifecycle (Verify, Fund, Confirm, Settle) that runs on every Coinbax transaction.

Last updated 2026-07-16View as Markdown

Coinbax builds payment controls for programmable money. The Coinbax Execution Framework is the four-phase lifecycle that every transaction moves through: Verify, Fund, Confirm, Settle. Each phase has a defined job, runs a defined set of controls, and maps to specific transaction states, so your integration always knows where a payment is and what can happen next.

Verify ──▶ Fund ──▶ Confirm ──▶ Settle

Phase 1: Verify

States: PENDING, RISK_REVIEW

Compliance screening and risk scoring run before funds move. Failed payments never reach the contract.

What runs here:

  • Request validation. Addresses, amounts, currency, and network are checked against the template and workspace configuration.
  • Compliance screening. PRE_ESCROW controls execute in order: address and sanctions screening, customer screening, amount limits.
  • Risk scoring. Each transaction is scored on amount, participant history, behavior, geography, and velocity. High-risk transactions are held or rejected before escrow.
  • Verification steps. If the template requires SMS or 2FA verification, the transaction pauses here until the code is confirmed.

A transaction that fails Verify moves to FAILED with a reason. Nothing was funded, so there is nothing to unwind.

Phase 2: Fund

States: ESCROWED (and PENDING_USER_ACTION while waiting on an external wallet)

Funds lock into the escrow contract defined by your template. A webhook fires when escrow confirms on-chain.

What runs here:

  • Escrow funding. For coinbax orchestration, funds lock in the smart contract. For raw, the direct transfer executes. Either way, the on-chain transaction hash is recorded before the state advances.
  • External wallet flows. When the sender signs from their own wallet, the transaction waits in PENDING_USER_ACTION until the funding transaction lands on-chain.
  • POST_ESCROW controls. Time delays set the release timestamp; ongoing transaction monitoring registers the payment for the escrow period.

The transaction.escrowed webhook carries the escrow address and hash, so your system can reconcile against the chain directly.

Phase 3: Confirm

States: IN_REVIEW, DISPUTED

Review windows, approvals, and rollback triggers execute. Your integration can hold, approve, or recall here.

What runs here:

  • Review windows. RAW transactions hold in IN_REVIEW (72 hours by default) before completing. Approvals can close the window early.
  • Time delays. COINBAX transactions wait out the configured delay before auto-release. The delay is set by the template’s TimeDelay control, from one minute up to 30 days.
  • PRE_RELEASE controls. Final compliance and risk checks run immediately before release. A control that fails here blocks the release.
  • Disputes and refunds. Either party can dispute; the platform can refund. Both interrupt the path to settlement while funds are still recoverable.

Confirm is the phase that makes stablecoin payments operationally reversible: funds are committed on-chain but not yet released, so approvals and recalls still have teeth.

Phase 4: Settle

States: COMPLETED, REFUNDED (plus RESCINDED and FAILED as the other terminal states)

The contract releases funds and records the result. Terminal states arrive by webhook with the full audit trail.

What runs here:

  • Release. The escrow contract releases funds to the receiver (COMPLETED) or returns them to the sender (REFUNDED).
  • Audit trail. Every control execution, state transition, and on-chain reference is frozen on the transaction record. Terminal states cannot transition again.
  • Notifications. The final webhook (transaction.completed, transaction.refunded, or transaction.rescinded) closes the loop for your integration.

State-to-phase map

Phase States Webhook events
Verify PENDING, RISK_REVIEW transaction.created, transaction.failed
Fund PENDING_USER_ACTION, ESCROWED transaction.escrowed
Confirm IN_REVIEW, DISPUTED dispute events
Settle COMPLETED, REFUNDED, RESCINDED, FAILED transaction.completed, transaction.refunded, transaction.rescinded

Why a framework

The framework is the contract between you and Coinbax. Controls always execute at a defined phase (PRE_ESCROW controls in Verify, POST_ESCROW in Fund, PRE_RELEASE in Confirm), states always advance in order, and terminal states are final. That predictability is what lets you attach approvals, limits, and recourse to money that otherwise settles instantly.

Next steps