Codex

Codex is a stablecoin infrastructure company founded in 2024 and headquartered across Singapore, New York, London, and Dubai. The company's mission is to fulfil the oldest and most ambitious dream in crypto: a universal electronic cash system. Codex builds every layer of the stablecoin stack — from the API layer to FX to the blockchain level — so they are purpose-built for business use.

Codex raised a $15.8 million seed round in April 2025, backed by Dragonfly Capital, Circle Ventures, Coinbase Ventures, Primitive Ventures, Cumberland, Wintermute Ventures, CMT Digital, Mirana Ventures, Foresight Ventures, Reverie, Hustle Fund, and Selini Capital.

Core Products/Services

Codex operates a vertically integrated stablecoin infrastructure stack comprising three core components:

• Codex Chain: A Layer 2 blockchain purpose-built for stablecoin money movement, built on Ethereum. Codex Chain provides deep and focused liquidity for large transfers, features designed specifically for stablecoin finance, global connectivity with the largest network of liquidity providers and exchanges, and token incentives designed to accelerate money movement. Institutional partners including Bybit, Fireblocks, and GSR have integrated Codex Chain.

• Codex API: A robust REST API enabling businesses to programmatically access stablecoin on/off ramp, cross-border payments, collections and payouts, named virtual accounts (IBANs), and treasury management. The API supports fiat-to-stablecoin conversion, stablecoin-to-fiat disbursement, and fiat-to-fiat transfers settled via stablecoins.

• Codex FX: A foreign exchange layer enabling fast, cheap, and reliable cross-border currency conversion using stablecoins as the settlement layer.

Key Strengths

Codex differentiates itself by building every layer of the stack in-house — from the application API down to the blockchain — rather than relying on disparate third-party solutions. This vertical integration enables near-instantaneous cross-border transactions at internet speed, reduced operational friction, lower costs compared to traditional correspondent banking, and compliance-ready infrastructure.

The founding team combines deep crypto expertise with real-world business understanding. Co-founder and CEO Haonan Li previously led protocol economics, data science, and governance at Optimism. Co-founder Victor Yaw brings experience from Southeast Asian family conglomerate operations. Co-founder Momo Ong is a second-time entrepreneur and former Meta Product Manager.

Notable Clients and Integrations

Codex has attracted major institutional integrations including Fireblocks (institutional custody), Bybit (tier-1 crypto exchange), and GSR (institutional trading). Network partners include BiLira (Turkish lira stablecoin), PDAX (Philippines remittance), Coinsph, Mobee, and Rail.io. Native USDC is live on Codex Chain via Circle.

Why Choose Codex

Codex solves the key pain points of enterprise stablecoin adoption: complexity, high cost, and fragmentation. By providing a single API integration that spans on-ramp, off-ramp, virtual accounts, and cross-border payments — all settled via a dedicated stablecoin-optimised blockchain — Codex enables fintechs and businesses to capture new payment corridors, unlock international markets, and pay or collect from partners globally without needing local entities or licenses.