Today, we’re excited to announce the launch of Codex FX, a wholesale FX platform powered by stablecoin settlement, built to replace legacy cross-border payment infrastructure for businesses operating in emerging and frontier markets
Codex FX is the fastest, most cost-efficient path for businesses to convert between fiat and stablecoins in any direction with deep institutional liquidity. The platform is backed by leading crypto-native investors including Dragonfly, Coinbase Ventures, Circle Ventures, Wintermute, and Cumberland.
Every day, businesses in emerging markets lose millions to inefficient cross-border payments, managing FX exposure across fragmented corridors, waiting days for settlement, and losing margin to opaque spreads and banking fees. Codex FX was purpose-built to fundamentally change how these companies move money globally.
Anything to Anything, One Platform
At its core, Codex FX is the fastest and most cost-effective way for businesses to move between fiat currencies and stablecoins. It serves as a single point of access for fiat-to-stablecoin on-ramping, stablecoin-to-fiat off-ramping, and direct swaps between different stablecoin denominations, all at institutional-grade pricing with deep liquidity. Whether a company needs to convert local currency into USDC, off-ramp USDT back to euros, or swap between stablecoin pairs, Codex FX handles every direction through one unified platform.
“We built Codex FX because businesses in emerging markets deserve the same transaction speed and transparency that businesses in New York or London take for granted. We’ve built the best infrastructure for payment providers, fintechs and businesses to on-ramp, off-ramp, and swap across currencies in minutes, from anything to anything.”
— Haonan Li, CEO
Most transactions settle in under 30 minutes, compared to the two-to-five business days typical of legacy providers, with 24/7/365 availability, including weekends and holidays. Pricing is wholesale with real-time quotes and zero hidden fees.
Liquidity Where It's Needed Most
Critically, Codex FX goes where legacy providers will not, offering liquidity in hard-to-reach corridors and frontier currencies, not just G7 pairs. Payment providers, fintechs, neobanks, remittance companies, and more gain access to markets that traditional FX infrastructure has historically failed to serve effectively.
Security and compliance are embedded at every layer. Codex FX features institutional custody, robust access controls, and both on-chain and off-chain AML monitoring through partners including Elliptic, Notabene, and Flagright. KYB onboarding completes in days, not months, and the platform's licensing framework aligns with MiCA and MSB standards.
Codex FX is live and onboarding businesses now. To get started, visit codex.xyz.