 | Codex  |
Codex is a blockchain purpose-built for stablecoin money movement. Its mission is to fulfill one of the original and most ambitious goals in crypto: creating a universal electronic cash system.
Seed Round: $15.8M
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EthereumWhat is Codex
Codex Chain is a secure, high-throughput, EVM-equivalent Layer 2 blockchain purpose-built for stablecoin-native payments, FX, and settlement. Unlike general-purpose chains, Codex is optimized at every layer — fee design, gas abstraction, liquidity, and custody — for stablecoin-native applications.
Codex Chain is the core transaction layer of the Codex ecosystem, settled on Ethereum — a stablecoin-native execution environment built to support protocol primitives and applications with strict requirements around execution determinism, network reliability, and atomic settlement.
Codex applies the latest Ethereum research to build crypto’s original dream: a global electronic cash system. We aim to eliminate fiat ↔ crypto friction by embedding programmable, secure, and verifiable onchain ramping, compliance, identity, FX, and fast finality.
Codex Roadmap
- EVM Equivalence: Full smart contract and tooling compatibility with Ethereum
- Stablecoin Gas Payments (Partial): Initial gas usage still denominated in ETH, with stablecoin support on the roadmap
- Custody Support: Early integrations with Safe, Fireblocks, and DFNS
- Cross-Chain Messaging: LayerZero support for interoperability
- Sequencer: Operated via Conduit to ensure low latency and reliable performance
Codex has launched its core EVM execution layer as an OP Stack-based rollup on Ethereum Mainnet. This includes:
- Native USDC on Codex: Eliminates bridging risk and enables seamless mint/redeem directly with Circle
- Other Native Stables: Support for additional fiat-backed or synthetic stablecoins
- Onchain Issuance Primitives: Designed for direct integration into payment, FX, and treasury flows
- Bridging Contracts: Custom bridges built for direct issuance flows (not synthetic wrappers)
This phase will focus on deploying natively issued, onchain stablecoins on Codex with direct bridging and mint/redeem flows:
- Validator Network: Validators become economically accountable for fiat ↔ crypto settlement
- Slashing Enforcement: Validators must fulfill fiat delivery obligations, or risk penalties
- Cancellation-First Ordering: Sequencer-level prioritization for market maker cancel orders, enabling tighter FX spreads
- Fee Refund Auctions: Second-price auction mechanism to reduce gas cost overpayment
- On/Off-Ramp Transaction Types: Custom EVM-native txs for verifiable fiat movement
- Ramp Compliance Logic (Precompiles): Business rules embedded directly into execution
This phase will focus on building out protocol-level features to unlock composability, trust minimization, and programmable guarantees:
- Ramp & Wallet SDKs: Onboard users with built-in KYB flows, transaction formatting, and metadata hooks
- Institutional APIs: Enterprise-facing interfaces to integrate directly with validators and custody infrastructure
- Developer Dashboard: Tools for contract deployment, ramp testing, and observability
- Docs & Standards: Formal interfaces for building and registering ramps, issuers, and validators
This phase will release first-party tooling for developers and financial institutions:
Funding Details
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