COLD START / catalog / c/codexretrieved 2026-07-25T05:04 UTC · 7 sources read

Codex

Codex builds a dedicated blockchain and settlement infrastructure for stablecoins, purpose-built for enterprise cross-border payments and FX.

codex.io · New York

CALL NO.CS·CODEX·26

StageSeedApril 2025 · led by Dragonfly Capital[1][2][3][4][5]

Raised$16Mdisclosed rounds[1][2][3][4][5]

Headcount15as of Jul 2026[7]

Valuationnot publicly disclosedno source in ledger

Founded2024[7]

Money

Raised $16M across disclosed rounds.[1][2][3][4][5]

Seed closed April 2025, led by Dragonfly Capital.[1][2][3][4][5]

post-money valuation is not publicly disclosed.

Named investors include Dragonfly Capital, Cumberland, Wintermute, Coinbase Ventures, Circle Ventures.[1][2][3]

People

Haonan Li, Co-founder and CEO[1][2][4][7]

Momo Ong, Co-founder[1][2][4][7]

Victor Yaw, Co-founder[1][2][4][7]

Signals

Jul 8 2026hiringCodex hiring Head of Client Onboarding and Software Engineers[7]

Jun 29 2026launchCodex FX achieved first $1B monthly volume in June 2026[7]

Apr 4 2025fundingCodex raises $15.8 million in Dragonfly-led seed round[1][2][3][4][5]

Comps

Plasma · plasma.io · Named in Fortune as another startup building a dedicated stablecoin blockchain, competing for the same enterprise stablecoin infrastructure thesis.[2]

Bridge (acquired by Stripe) · bridge.xyz · Bridge was the leading stablecoin infrastructure platform for enterprises before Stripe acquired it; Codex targets the same enterprise stablecoin settlement workflow.[2]

Investor Lens

Why care

The case

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Sourcestracings · 7

[1]Codex, the startup behind an enterprise-focused blockchain for stablecoins, raises $15.8 million in Dragonfly-led seed round

Jul 2026 · theblock.co

reported

[2]Exclusive: Codex raises $16 million to build a blockchain just for stablecoins