CODEX

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COMPANY detail

CODEX
The FX standard for moving between fiat and stablecoins

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CODEX

Company Overview.

Year Founded 2024
Status Private
Specialties Payment Infra, Stablecoin
Company Size 11-50 Employees
Industry Technology, Information and Internet
Location USA

Description.

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
Stablecoin FX Settlement
Provides institutional-grade cross-border payment rails using stablecoin liquidity to settle transactions in under thirty minutes.
This bypasses traditional correspondent banking delays while offering deep liquidity and tight spreads across emerging markets.
Emerging Market Coverage
Emerging Market Coverage
Delivers deep liquidity in hard-to-reach corridors, allowing seamless conversion between fiat and stablecoins.
Businesses can effortlessly route flows involving currencies like the Mexican Peso and Vietnamese Dong without hidden markups.
Emerging Market Currencies
Emerging Market Currencies
Support for hard-to-reach corridors including MXN, CLP, BRL, ARS, PEN, INR, VND, PKR, COP, TRY, BOB, PHP, IDR, AED
API Integration
API Integration
Equips developers with a unified application programming interface to embed wholesale foreign exchange rates and stablecoin settlement directly into their own fintech products, streamlining cross-border payments and eliminating operational overhead.
Compliance Controls
Compliance Controls
Integrates onchain and offchain anti-money laundering controls through partnerships with Elliptic, Notabene, and Flagright.
The platform's robust know-your-business onboarding process aligns closely with rigorous global MiCA and MSB regulatory standards.
Always-On Trading
Always-On Trading
Ensures continuous foreign exchange liquidity and settlement capabilities twenty-four hours a day, seven days a week, including weekends and holidays.
This completely eliminates the restrictive cutoff times of traditional banking.
Fiat & Stablecoin Ramps
Fiat & Stablecoin Ramps
Handles both fiat-to-stablecoin and stablecoin-to-stablecoin conversions with institutional liquidity.
This enables payment providers to seamlessly swap assets like Euros to USDC or USDT to local-currency stablecoins instantly and efficiently.
Dedicated L2 Blockchain
Dedicated L2 Blockchain
Operates a purpose-built Layer 2 network on the Optimism Stack hosted by Conduit.
This dedicated infrastructure is specifically designed to facilitate global stablecoin payments and power efficient on-chain compute applications.
Enterprise-Grade Security
Enterprise-Grade Security
Protects every transaction using institutional custody solutions and robust access controls.
The battle-tested infrastructure provides payment service providers and neobanks with a highly secure environment for managing global currency exposure.

Additional Features.

Real-Time Quotes
Displays competitive foreign exchange rates upfront with absolute clarity. Users benefit from completely transparent execution, ensuring they know exactly what they are paying before initiating trades.
Accelerated KYB Onboarding
Streamlines the compliance verification process so enterprise clients can get fully onboarded in just a few days rather than waiting weeks or months for standard approvals.
Zero Hidden Fees
Eliminates unpredictable markups typically associated with legacy cross-border payment providers. The platform charges clear, straightforward fees, protecting business margins from unexpected banking costs and widening spreads.
Wholesale Rate Access
Democratizes access to institutional-grade pricing for fintechs of any size. Companies no longer need massive trading volumes to secure highly competitive foreign exchange spreads and liquidity.
Specialized Neobank Solutions
Empowers digital banks to offer their customers superior cross-border capabilities. By leveraging underlying stablecoin rails, neobanks can drastically reduce international transfer delays and backend processing costs.
Remittance Optimization
Transforms global remittance flows by completely removing the correspondent banking chain. This allows specialized money transfer companies to dramatically reduce costs and pass savings directly to consumers.

General Questions.

Codex FX provides stablecoin-powered FX infrastructure for businesses, enabling payment providers, neobanks, remittance companies, and fintechs to access wholesale FX rates, sub-30-minute settlement, and emerging market currency coverage through a single API.

Their target clients include Payment Service Providers (PSPs), Neobanks, Remittance companies, Fintechs, On/off ramps, Invoice payment companies, Commodities businesses, and E-commerce companies.

Yes — Codex Financial, Inc. is a licensed MSB (Money Services Business) with NMLS ID 2696269, aligned with MiCA and MSB standards.

Ethereum-based stablecoins — primarily USDC and USDT. The platform handles both fiat↔stable and stable↔stable conversions.

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