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Codex

Category: AI in Fintech

Wholesale stablecoin FX and institutional on/off-ramp infrastructure powered by a purpose-built stablecoin chain. Codex was founded in 2024. The company is led by Haonan Li. Based in New York, NY, USA. Team size: 11-50. Total funding raised: $15.8 million. Latest round: Seed. Key investors include Dragonfly Capital, Coinbase Ventures, Circle Ventures, Cumberland, Wintermute, Selini Capital, Bybit.

AMW Analysis

Codex is an enterprise-focused blockchain platform designed exclusively for stablecoins, providing dedicated and compliant infrastructure to minimize UX friction for enterprise use cases. Founded in 2021 and based in San Francisco, it has raised $15.8 million in seed funding from investors including Dragonfly Capital, Coinbase Ventures, and Circle Ventures.

Recent news flow, however, shows a different entity also named Codex—an OpenAI product receiving significant updates. In April 2026, OpenAI updated its Codex system with autonomous macOS control, memory, and new plugins to compete with Anthropic's Claude Code. Separately, OpenAI unveiled GPT‑Rosalind, a biology-tuned LLM available via Codex, and the infrastructure platform Temporal, which powers OpenAI's Codex, raised $300 million at a $5 billion valuation. These developments indicate that the name "Codex" is currently associated with two distinct companies: one focused on stablecoin blockchain infrastructure and another as an OpenAI development tool. The stablecoin-focused Codex has no tracked news of its own, while the OpenAI Codex is actively expanding its capabilities and infrastructure backing.

AMW analysis, generated from 3 tracked news signals.

Founded
2024
Headquarters
New York, NY, USA
Team size
11-50
Total funding
$15.8 million

Value proposition

Institutional wholesale FX between fiat and stablecoins with firm rates, same-day/24-7 settlement, and deep liquidity in emerging-market corridors—without pre-funding venue balances.

Products and solutions

Stablecoin-focused blockchain for enterprise applications

Unique value

Purpose-built stablecoin rails for institutional FX: one counterparty, locked wholesale rates, under-30-minute settlement, and coverage of hard-to-reach emerging-market corridors vs multipurpose chains and CEX ramps.

Target customer

Enterprises and institutional players within the stablecoin and broader cryptocurrency ecosystem

Industries served

Cryptocurrency, Blockchain, Fintech

Technology advantage

Tailored infrastructure offering deep liquidity integration, seamless user experience, and reliability that traditional multipurpose chains do not provide

How they differentiate

Institutional one-desk FX with locked wholesale pricing and same-day/24-7 settlement without parking balances on venues; purpose-built stablecoin chain vs multipurpose L1/L2 and retail CEX ramps.

Main competitors

Traditional FX/on-off-ramp providers, centralized exchanges (CEX ramps), other stablecoin-focused chains (e.g. Plasma)

Key partnerships

Dragonfly Capital, Coinbase Ventures, Circle Ventures, Cumberland, Wintermute, Selini Capital

Major milestones

Secured ~$15.8M in seed funding led by Dragonfly Capital Gained backing from prominent crypto venture investors

Growth metrics

Company reports $1B+ monthly volume (stablecoin FX / settlement flows)

Market positioning

Institutional wholesale stablecoin FX infrastructure for emerging and frontier markets, with an underlying purpose-built stablecoin chain.

Geographic focus

Global

Patents and IP

No patents currently filed

About Haonan Li

Haonan Li is co-founder and CEO of Codex (Codex FX). Wharton (summa cum laude); brief quant role at Verdad Advisers; at Optimism/OP Labs led token/airdrop design, protocol economics, and RPGF. Positions Codex around stablecoin foreign exchange / institutional FX rails.

Latest news about Codex

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