Codex Targets African Cross-Border Payments with Dedicated Stablecoin Blockchain
For too long, moving money across African borders has been a labyrinth of delays, high costs, and operational uncertainties. Businesses and individuals regularly contend with protracted transaction times, often complicated by stringent compliance checks, volatile exchange rates when dealing with traditional currencies like the dollar or euro, and the constant scramble to manage financial gaps. This intricate landscape has presented significant hurdles for economic growth and regional integration, demanding a more efficient and stable solution for cross-border financial transactions.
Revolutionizing Digital Transactions with a Laser Focus
A new global blockchain startup, Codex, is poised to tackle these entrenched challenges by adopting a uniquely focused strategy within the fintech space. Instead of developing a multi-purpose blockchain hosting a myriad of tokens and applications, Codex is building a singular infrastructure dedicated exclusively to stablecoins. This deliberate narrow focus is central to their bet: by streamlining the underlying technology for just one function—stablecoin transactions—they can dramatically enhance the speed and ease of cross-border payments, particularly across the African continent. Codex believes this specialization will cut through the complexities that plague conventional financial systems, offering a more stable and predictable digital currency alternative. The company, founded by Haonan Li, Victor Yaw, and Momo Ong, officially emerged from stealth in April 2025. This reveal followed a successful seed funding round that amassed an impressive $15.8 million. The round was spearheaded by prominent venture capital firm Dragonfly Capital, with substantial participation from industry giants such as Coinbase, Circle, Cumberland Labs, and Wintermute Ventures, among others, signalling strong investor confidence in Codex’s vision for the global stablecoin market, which is already valued at $230 billion.
Codex’s innovative approach represents a significant step forward in making financial flows more efficient and predictable in regions where they are most needed. By providing a stable, fast, and cost-effective digital rail for payments, this blockchain solution aims to unlock new economic opportunities and mitigate the long-standing frictions associated with international money transfers, fostering greater financial inclusion and stability across Africa and beyond.
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