Codex has officially launched CodexFX.
CodexFX will be able to provide instant quotes on stablecoin-to-fiat, fiat-to-stablecoin, and stablecoin-to-stablecoin exchanges. Top global currencies currently supported are USD, GBP, EUR, MXN and USDT, USDC stablecoins with liquidity built on top of stablecoin infrastructure.
CEO Haonan Li expressed:
We built Codex FX because businesses in emerging markets deserve the same transaction speed and transparency that businesses in New York or London take for granted.”
With stablecoin forex, both settlement times and pricing can be much more transparent. Not all businesses and institutions are able to get wholesale FX rates to move corporate funds at faster speeds and cheaper fees, so this is the start of a new stablecoin economy.
The global FX (foreign exchange) market is historically a multi-trillion dollar market. In April 2025, the BIS reported that $9.6T of FX volume averaged per day, rising 28% from 2022.
Also, CME Group highlighted that emerging currencies such as CNH (Chinese Renminbi) and BRL (Brazilian Realare on the rise, meaning that liquidity in projects such as CodexFX need to ensure deep emerging market currency pairs to support the influx of demand.
