Codex

The FX standard for moving between fiat and stablecoins. Anything to anything.

[Codex @CodexFX]

Introducing Codex FX.

The new standard for moving between fiat and stablecoins.

Anything to anything.

[Codex @CodexFX]

FX is the biggest market on earth.

Nearly $10 trillion trades every day, yet most of it still moves on rails built decades ago.

@Haonan is speaking at @ETHConf in New York on what breaks in legacy FX and how onchain FX fixes it.

See you there.

[Codex @CodexFX]

@ethconf @haonan 👀

[ETHConf @ethconf]

🌟 NEW ETHConf speaker announced:

@haonan, CEO of @CodexFX

Co-founded Codex, the stablecoin-powered FX infrastructure for businesses moving money across borders. Previously led protocol economics at Optimism, including Retroactive Public Goods Funding.

June 8–10, NYC. 🗽

[Codex @CodexFX]

PSPs and fintechs moving large volumes in stablecoin and fiat swaps are often overpaying.

USDC⇔USDT
USDC⇔USD
USDT⇔USD

Codex FX offers wholesale rates, 24/7, with sub-30-minute settlement.

Get in touch and share your current pricing. We'll do better.

https://t.co/ljov5CFdPj

[Codex @CodexFX]

Cross-border payments move over $190T every year.

Yet the rails underneath still run on correspondent banks, office hours, trapped capital, and settlement windows that take 1–5 business days.

Stablecoins solve the middle leg, but PSPs and fintechs still need FX, liquidity, compliance, on/off-ramps, and local payout rails.

That’s stablecoin FX infrastructure. Fiat in. Stablecoin settlement in the middle. Fiat out.

Learn more below.

https://t.co/aJ2Dj1OgBY

[Codex @CodexFX]

We're heading to @Money2020 Europe.

📆 June 2–4
📍 Amsterdam

Are you a fintech, PSP, or neobank moving between stablecoins and fiat?

Codex FX gives you 24/7 USDC, USDT, and fiat settlement in under 30 minutes at institutional volumes.

DM to book a physical meeting.

[Momo Ong @momoeureka]

We recently set a rule at @CodexFX: when a client wants to trade, we respond within 10 minutes. 5 minutes is ideal.

It's the standard our trading desk operates on.

The logic is simple. When a PSP asks for a price, there's an end customer waiting on settlement. A 30-minute response at our level becomes hours for them.

We built ops coverage across Singapore, London, and US time zones before we pitched it. A quote at 11 PM in one geography gets acknowledged within minutes by someone awake in another.

The real test is what happens Sunday night when settlement is needed before Monday morning.

If your venue is taking longer than 10 minutes to acknowledge a quote during your business day, everything else is going to be slower than you need.

[haonan @haonan]

Darrell Duffie of Stanford is famous for being the world’s foremost scholar of financial market plumbing.

Few will know that he was also a director of The Narrow Bank (TNB), the bank the Fed quietly strangled for the crime of being too safe.

In this episode we cover: Why did TNB die? What are the parallels to the state of stablecoins today, if any? Do stablecoins actually threaten bank deposits?

What does a Treasury security purpose-built for on-chain settlement look like? What tokenized assets should serve as the backbone of financial system of the future?

Darrell’s Brookings paper with Don Wilson and TNB’s regulatory comment letter on Regulation D are both worth reading alongside this episode.

• 00:00 – Intro
• 01:07 – The Bank That Couldn’t Fail
• 03:53 – Will Stablecoins Kill Lending?
• 07:54 – Private Credit’s Run Problem
• 11:14 – Too Safe to Exist
• 18:31 – Why USDC Can’t Run Wall Street
• 25:21 – The Narrow Bank Returns
• 28:22 – If Duffie Ran Global Finance
• 31:25 – The Stablecoin Sandwich Problem
• 34:20 – The End of CLS?
• 40:31 – Nubank vs. JPMorgan

Brought to you by Codex, the stablecoin foreign exchange specialist.

[Codex @CodexFX]

Crypto payment card issuers face a daily settlement reality.

Their customers transact in stablecoins, but Visa and Mastercard require USD. The off-ramp between them can be slow and expensive.

Codex FX converts USDT and USDC to USD in under 30 minutes, 24/7, at wholesale rates.

For businesses issuing cards at scale.

https://t.co/hmY2R835ey

[haonan @haonan]

more than 70% of fiat inflows into major USD-pegged stablecoins now come from non-USD currencies

global demand for dollar exposure is flowing through stablecoins

https://t.co/SxFjEv18fp makes those conversions instant and cheap at wholesale rates

[haonan @haonan]

if you run a crypto PSP, you know this pain:

customer deposits USDT, your payout partner only accepts USDC

you're stuck doing the swap somewhere, paying spread + fees + slippage

https://t.co/SxFjEv18fp does USDT/USDC at institutional rates with 24/7 settlement

[haonan @haonan]

Brazil has one of the largest FX markets among emerging economies

yet cross-border BRL has been stuck on legacy infrastructure. pix is incredible domestically, but it's BRL-only

the moment you cross borders, everything breaks down and businesses are stuck with slow settlement, bad rates, and banking hours

this is where Codex FX earns its place:

pix on one side handling BRL settlement, stablecoins on the other handling the dollar leg, with Codex FX connecting them

settlement that used to take days now takes minutes at wholesale pricing

this is the infrastructure that lets stablecoins move into the real world

[Codex @CodexFX]

@0xGusta 🤝

[Codex @CodexFX]

Brazil.

Experience Codex FX today with wholesale rates, near-instant settlement, and 24/7 availability.

🇧🇷 BRL ⇔ USDC/USDT

Pague bonito.

[Codex @CodexFX]

@_CryptoNotes_ 👀

[Codex @CodexFX]

Learn more:
https://t.co/p8keVS4bGv

Book demo:
https://t.co/ljov5CFdPj

[Codex @CodexFX]

Ever wonder how modern remittance companies are moving money?

1️⃣ Buy USDT/USDC from Codex FX with USD, at wholesale rates

2️⃣ Send the stablecoin to a local payout partner

3️⃣ Partner disburses to the customer in local currency

Correspondent banking takes 2–5 business days. This clears in minutes, weekends included.

Book a demo.

https://t.co/hmY2R835ey

[haonan @haonan]

OTC desks

every $10 million USDT/USDC trade you split across Binance, OKX and Bybit is slippage you don't have to pay

we can help you at Codex FX

get in touch

https://t.co/SxFjEv18fp

[Jason Marshall @__JasonMarshall]

We’re hiring right now. Mostly in East Asia and Latin America.

[Codex @CodexFX]

We're on a mission to make conversion between fiat and stablecoins seamless across emerging and frontier markets.

To get there, we've grown our team by over 100% in the last few months across sales, partnerships, legal, compliance, and more.

We are still hiring for:

• APAC Trader
• APAC Banking Specialist
• APAC Compliance Officer
• LATAM Operations Officer
• Client Onboarding Officer

Get in touch.