Stablecoin-focused Layer 2 network Codex.xyz aims to improve global payments through on-chain compliance, identity, and settlement systems

Codex.xyz – Namecheap customer – (United States)

Developers use .xyz domains to build next-generation financial infrastructure powered by blockchain and stablecoin innovation. Payments platform Mesta.xyz aims to make global transactions faster and more affordable with fiat and stablecoin integration. Stablecoin platform Ubyx.xyz aims to standardize redemption and expand adoption across traditional finance. Stablecoin infrastructure Tempo.xyz introduces blockchain for digital payments. In this week’s #BlockchainThursday, we’ll introduce you to a Layer 2 network designed to make stablecoin payments and foreign exchange more efficient through on-chain compliance, identity, and settlement: Codex.xyz.

Codex.xyz builds blockchain infrastructure for stablecoin payments

Codex.xyz is the online home of Codex PBC, a Public Benefit Corporation developing Codex Chain, an Ethereum Layer 2 network designed for stablecoin-native payments, foreign exchange, and settlement. According to its documentation, Codex Chain aims to reduce friction between fiat and crypto by embedding programmable on-chain systems for ramping, compliance, identity, and FX. The network operates as an EVM-equivalent rollup on Ethereum, meaning that existing Ethereum contracts and developer tools can run on Codex without modification. In April 2025, Codex raised $15.8M in seed funding led by Dragonfly.xyz, with participation from Coinbase Ventures, Circle Ventures, Wintermute Ventures, Selini Capital, and others.¹

Codex introduces blockchain infrastructure designed for stablecoin utility and cross-border settlement

Codex positions itself within the blockchain field as a network purpose-built for payments and settlement rather than speculation. Its design focuses on stablecoin utility by addressing issues such as liquidity fragmentation, compliance friction, and inconsistent settlement reliability. The chain includes on-chain identity and compliance registries, native stablecoin issuance (beginning with USDC), and transaction types that combine fiat settlement with crypto transfers. Shared in the project’s roadmap, Codex intends to introduce features such as validator accountability for fiat obligations, multi-currency FX routing, and institutional custody integration with providers like Fireblocks, Dfns, and Safe (formerly Gnosis Safe). These developments are aimed at creating a programmable, verifiable foundation for stablecoin payments across borders.

Leadership behind Codex brings experience across blockchain economics and global finance

Codex is founded by Haonan Li, Momo Ong, and Victor Yaw. As highlighted on LinkedIn, Haonan Li serves as CEO and previously led cryptoeconomics at OP Labs, where he worked on token design and sequencer economics for Optimism. Momo Ong brings experience as an angel investor and former venture partner at DeFiance Capital and scout for Sequoia Capital. Victor Yaw’s background includes growth capital investing at Blue Cloud Ventures, where he focused on enterprise software and fintech companies. Together, the team combines experience in blockchain economics, venture investment, and financial technology operations.

The value of a short, memorable domain like Codex.xyz

Codex selected Codex.xyz as the online home for its blockchain ecosystem. The short, direct name reinforces the company’s focus on creating clear, programmable systems for on-chain money movement. Using .xyz places Codex among many innovators in the blockchain and stablecoin space that adopt the extension to signal a modern, global orientation. The memorable and concise domain helps users and developers locate information about the Codex network and its ongoing development more easily. You can learn more by following the company on X/Twitter and LinkedIn, and by visiting Codex.xyz. 

^{1.https://fortune.com/crypto/2025/04/04/codex-seed-round-dragonfly-coinbase-circle-15-8-million/}

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