CODEX
The FX standard for moving between fiat and stablecoins
About CODEX
Codex FX is a stablecoin-powered FX infrastructure layer for businesses that move money across borders and currencies. Founded in 2024 and headquartered in San Francisco, California, the company provides payment providers, neobanks, remittance companies, and fintechs with access to wholesale FX rates, sub-30-minute settlement, and emerging market currency coverage through a single platform and API. The company handles both fiat↔stable and stable↔stable conversions, enabling businesses to move EUR to USDC or swap USDT to local-currency stablecoins with institutional liquidity. Codex FX is backed by top-tier crypto investors including Dragonfly Capital (lead investor), Coinbase Ventures, Circle Ventures, Wintermute, and Cumberland, raising $16M in a seed round in April 2025. The company holds an MSB (Money Services Business) license through its subsidiary Codex Financial, Inc. (NMLS 2696269) and aligns with MiCA and MSB standards for compliance.
Key Infrastructure
Stablecoin FX Settlement
Institutional-grade cross-border payment rails using stablecoin liquidity to settle transactions in under thirty minutes
Emerging Market Coverage
Deep liquidity in hard-to-reach corridors including MXN, CLP, BRL, ARS, PEN, INR, VND, PKR, COP, TRY, BOB, PHP, IDR, AED
API Integration Platform
Unified API to embed wholesale foreign exchange rates and stablecoin settlement into fintech products
Institutional Compliance Controls
Integrates onchain and offchain anti-money laundering controls through Elliptic, Notabene, and Flagright partnerships
Always-On Trading Infra
Continuous foreign exchange liquidity and settlement 24/7, including weekends and holidays
Fiat and Stablecoin Ramps
Handles fiat-to-stablecoin and stablecoin-to-stablecoin conversions with institutional liquidity
Dedicated L2 Blockchain
Purpose-built Layer 2 network on Optimism Stack hosted by Conduit for global stablecoin payments
Enterprise-Grade Security
Institutional custody solutions and robust access controls for managing global currency exposure
Additional Features
Real-Time Quotes
Competitive foreign exchange rates displayed upfront with complete transparency
Accelerated KYB Onboarding
Streamlined compliance verification allowing enterprise client onboarding in days rather than weeks
Zero Hidden Fees
Clear, straightforward fees without unpredictable markups or widening spreads
Wholesale Rate Access
Institutional-grade pricing democratized for fintechs of any size
Specialized Neobank Solutions
Enables digital banks to offer superior cross-border capabilities and reduce processing costs
Remittance Optimization
Removes correspondent banking chain for cost reduction in money transfer flows