Codex, a new blockchain network for Stablecoins that obtained $ 16 million earlier this year from Dragonfly Capital, Coinbase, Circle and other remarkable investors, has officially launched its mainnet to make digital dollars more practical for daily finances.
The network went live, 24 June, with native support for USDC, which means that the stablecoin can move over codex without needing a cross-chain bridge or wrapper. According to a press release that is shared with the Defiant, the goal of Codex is to offer a smoother way for companies and institutions to use Stablecoins, just as their global capitalization has recently risen above $ 250 billion.
Codex Co-founder Haonan Li said in an interview with The Defiant that the project is trying to solve what he sees as the real challenge in the adoption of Stablecoin, not blockchain speed or transaction limits, but the gap between crypto and traditional money.
“In our opinion, neither TPS nor latency are really the bottlenecks for the adoption of Stablecoin today,” he said. “The real bottlenecks are all at the Fiat <> Crypto limit. Blockchain teams have not historically focused on these border problems, they usually do not have the interest or expertise to solve these problems.”
Confidentiality
To tackle this, Codex works on licenses, partnerships with payment slopes and bank relationships, says Li. The developers plan to roll out functions such as instant currency swaps, atomic off-roots that do not allow users to retain due to compliance problems, and more reliable cash delivery systems in regions where existing off-disasters are slow or unreliable.
Codex’s Swap -Platform – Codex Avenue – already offers transactions between Stablecoins and Fiat, including large transactions near 1: 1 prizes, the team revealed in the press release. Additional functions, such as automated compliance controls and risk-free Fiat delivery with the help of validators held responsible by the network itself, are expected at the end of 2025.
“This is why Codex will be where the future of the Stablecoin will happen, and why we are proud to work with Stablecoin mittens like Circle,” Li said.
When demanding privacy functions at the chain, Li said that Codex cooperates with top teams in Crypto to make some parts of transactions stay private, while still meets the compliance standards. The chain will use new zero knowledge and coding tools to offer this kind of confidentiality on a scale. “More to share soon,” he hinted, without diving into technical details.
While Codex is being launched with USDC, Li confirmed that the team is planning to support all large stablecoins, including Tether’s USDT and Circle’s Euro-backed EURC. “Codex works with all issues. We believe that the Stablecoin chain of the future should offer native access to all stablecoins,” he told the Defiant, although no timeline has been specified for those integrations.
Earlier this month, another blockchain, plasma,, another question of participation in his $ 50 million token sale, saw another course, while Circle’s long-awaited IPO was also transferred and, it turned out, undervalued signs of a strong demand for exposure to stabelic life. From yesterday, Circle’s Market Cap surpassed the current circulating market capitalization of USDC itself.