Codex FX is a stablecoin-native FX platform, enabling businesses to convert, receive, and pay with fiat and stablecoins at institutional rates, 24/7.

Q: What is Codex FX?

Codex FX is stablecoin-powered FX infrastructure for businesses that move money across borders. Payment providers, neobanks, remittance companies, and fintechs use us for wholesale FX rates, fast settlement, and emerging market coverage, all through a single platform and API. We clear over 1 billion USD in volume every month. Learn more about Codex .

Q: What products does Codex offer?

Codex offers three products: fiat on- and off-ramps to move between local currency and stablecoins, cross-chain transfers to move assets between blockchain networks, and Codex Par for swapping USDC and USDT at 1:1. They all run on the same account, dashboard, and API.

Q: What currencies and corridors do you support?

We currently support USD, EUR, GBP, MXN, and BRL, plus USDC and USDT on nine blockchain networks, with corridors across North America, Latin America, Europe, Africa, and Asia. More emerging market currencies are on the way, including COP, CLP, ARS, TRY, PHP, and INR.

Q: How fast is settlement?

Settlement time is under 30 minutes for the fastest trades, and most complete the same day. We run 24/7/365, including weekends and holidays, and you can track every order live from quote to payout.

Q: How does pricing work?

You trade at one all-in wholesale rate, and the rate you see is the rate you settle at. Our cost is included in that rate and scales with your volume. No markups, no hidden fees. For Codex Par or our bridging services, the fee is quoted upfront and billed separately.

Q: Do I need to pre-fund an account?

No. You don't park a balance with us. Lock a rate, then fund that specific trade, either by sending fiat to a local Codex account or stablecoins to the address we provide. For USDC and USDT swaps, Codex Par holds liquidity on both sides, so there's nothing to pre-fund there either.

Q: How long does onboarding and KYB take?

Onboarding usually takes a few days, not months. KYB and compliance checks happen up front. Book a demo to walk through what's required for your business and jurisdiction.

Q: What security and compliance standards do you meet?

Client funds are held in institutional custody with strict access controls. Onchain and offchain AML screening and transaction monitoring run on every trade, in line with MiCA and MSB standards.

Q: How do I get started?

Book a demo . We'll map the corridors you need, share indicative pricing, and walk you through onboarding.

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$1B+Cleared monthly

<30 minSettlement

24/7/365Availability

Backed by:

Dragonfly

Coinbase Ventures

Circle Ventures

Wintermute

Cumberland

The products

Stablecoin rails for
cross-border payments.

Convert USD, EUR, GBP, and other currencies into USDC, USDT, and other stablecoins, with firm wholesale FX rates, institutional liquidity, and settlement in under 30 minutes.

Learn more

Flow diagram: 1,000,000 USD converted into 1,000,000 USDC — Codex executes the transaction on Ethereum

Flow diagram: 1,000,000 USDT on Ethereum bridged to 1,000,000 USDT on Solana — Codex executes the transaction

Codex Par API response for a 1,000,000 USDT swap — rate locked at 1:1, par on every call at every size

The platform

One interface. One API.

Place an order in the dashboard or integrate our API and run it from your own stack.

Read the API docs

Same order, over API.

POST /api/v1/orders
{
  "quoteId": "qt_01KX707F2J",
  "cryptoDepositNetwork": "ETHEREUM",
  "payoutDestination": {
    "type": "FIAT_COUNTERPARTY",
    "id": "fc_01KX707F2J"
  }
}

The features

The new
FX standard

Institutional pricing, fees you can see upfront, and settlement in under 30 minutes, 24/7. Across major and emerging market currencies, in either direction.

Wholesale
rates

Institutional-grade pricing. Access deep liquidity and tight spreads, with clear fees and real-time quotes.

Settle in
minutes

Most transactions settle in under 30 minutes, 24/7/365, including weekends and holidays.

No hidden
fees

See your rate upfront. Clear execution with zero hidden costs. Know exactly what you’re paying before every trade.

Emerging
market
currencies

We go where legacy providers won’t. Deep liquidity in hard-to-reach corridors and emerging market currencies, not just G7.

Any asset,
any direction

Whether you’re moving EUR to USDC or swapping USDT to a local-currency stablecoin, Codex FX handles both fiat↔stable and stable↔stable.

How Codex FX compares

Every day, emerging-market businesses lose millions to inefficient cross-border payments. Companies manage FX exposure, wait days to settle, and bleed margin to spreads and bank fees.

Codex FX exists to fundamentally change how businesses move money globally.

Codex FX

Legacy providers

Settlement

< 30 minutes on average

2–5 business days

Cost

Fraction of legacy cost

3–5% in fees + hidden markups

Availability

24/7/365

9 AM – 5 PM, weekdays only

KYB Onboarding

Days, not months

Weeks to months

Transparency

Real-time quotes, zero hidden fees

Opaque pricing, unpredictable markups

Currency Coverage

Emerging & frontier markets

G7 currencies only

The currencies we cover

We're on a mission to support the world's hardest-to-reach currencies.

Convert between USD, EUR, GBP, USDC and USDT and local currencies across Latin America, Southeast Asia, South Asia and the Middle East.

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Active

USDUS Dollar

MXNMexican Peso

GBPBritish Pound Sterling

USDCUSD Coin

EUREuro

USDTUSD Tether

BRLBrazilian Real

Coming Soon

CLPChilean Peso

COPColombian Peso

TRYTurkish Lira

ARSArgentine Peso

BOBBolivian Boliviano

PENPeruvian Sol

PHPPhilippine Peso

INRIndian Rupee

IDRIndonesian Rupiah

VNDVietnamese Dong

AEDUAE Dirham

PKRPakistani Rupee

What industry
leaders say

What the people building and funding stablecoin infrastructure say about settlement, emerging market currencies, and moving the currency layer onchain.

Forex is the world’s largest market, and yet it remains cumbersome, slow, and analog. The time has come for FX to modernize and go digital. Codex FX is the business to do that, bringing this market onchain with the speed and efficiency modern finance demands. We backed Codex because we believe they will underpin this core financial infrastructure that will shape the next era of cross-border payments.

Rob Hadick, Dragonfly

General Partner

Rob Hadick, Dragonfly

General Partner

Rob Hadick is a General Partner at Dragonfly, a global investment firm focused on foundational crypto infrastructure and one of Codex FX’s earliest backers. He invests across payments, stablecoins, and the financial rails being rebuilt onchain.

Cheap stablecoin transactions continue to be one of the most important sources of large-scale value that crypto provides today. Excited to see Codex joining the arena.

Vitalik Buterin, Ethereum

Founder

Vitalik Buterin, Ethereum

Founder

Vitalik Buterin is the creator of Ethereum, the network that anchors much of the world’s stablecoin activity. Ethereum is part of the settlement layer Codex FX uses to move money across borders in minutes, at any hour.

The teams we build for

Codex FX powers companies in emerging and frontier markets that need fast, cost-effective currency conversion at scale.

Convert between fiat and stablecoins to fund merchant payouts in local currency. One desk, wholesale rates, settlement in under 30 minutes.

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A wholesale FX desk behind your product: live quotes, one counterparty, and conversion between fiat and stablecoins that settles 24/7.

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Pay suppliers across borders at a rate locked before each run. Fund the trade and it settles the same day, with the all-in cost known upfront.

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Liquidity for payout corridors, including the hard-to-reach ones. Less prefunding, and payouts keep moving on weekends and holidays.

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Wholesale FX behind your customers' international transfers instead of correspondent banking. Transparent pricing, available 24/7/365.

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Settle supplier and counterparty payments across borders in minutes, at wholesale rates, any day the market is moving.

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Bring revenue home from international markets and pay suppliers in local currency, without retail FX spreads eating the margin.

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Enterprise-grade security

You care about security, so do we. Institutional custody, robust access controls, and battle-tested infrastructure to protect every transaction.

Compliance-first design

Onchain and offchain AML controls with partners like Elliptic, Notabene, and Flagright. Our KYB and licensing approach aligns with MiCA and MSB standards.

Move money globally, faster, cheaper, any time.

Join payment providers, neobanks, remittance companies, and others transacting through Codex FX.

Book demo →

FAQ

Find answers about how Codex FX works, our products, supported corridors, settlement,
onboarding, and pricing.

Codex FX is stablecoin-powered FX infrastructure for businesses that move money across borders. Payment providers, neobanks, remittance companies, and fintechs use us for wholesale FX rates, fast settlement, and emerging market coverage, all through a single platform and API. We clear over 1 billion USD in volume every month. Learn more about Codex.

Codex offers three products: fiat on- and off-ramps to move between local currency and stablecoins, cross-chain transfers to move assets between blockchain networks, and Codex Par for swapping USDC and USDT at 1:1. They all run on the same account, dashboard, and API.

We currently support USD, EUR, GBP, MXN, and BRL, plus USDC and USDT on nine blockchain networks, with corridors across North America, Latin America, Europe, Africa, and Asia. More emerging market currencies are on the way, including COP, CLP, ARS, TRY, PHP, and INR.

Settlement time is under 30 minutes for the fastest trades, and most complete the same day. We run 24/7/365, including weekends and holidays, and you can track every order live from quote to payout.

You trade at one all-in wholesale rate, and the rate you see is the rate you settle at. Our cost is included in that rate and scales with your volume. No markups, no hidden fees. For Codex Par or our bridging services, the fee is quoted upfront and billed separately.

No. You don't park a balance with us. Lock a rate, then fund that specific trade, either by sending fiat to a local Codex account or stablecoins to the address we provide. For USDC and USDT swaps, Codex Par holds liquidity on both sides, so there's nothing to pre-fund there either.

Onboarding usually takes a few days, not months. KYB and compliance checks happen up front. Book a demo to walk through what's required for your business and jurisdiction.

Client funds are held in institutional custody with strict access controls. Onchain and offchain AML screening and transaction monitoring run on every trade, in line with MiCA and MSB standards.

Book a demo. We'll map the corridors you need, share indicative pricing, and walk you through onboarding.

Blog

The latest updates and news on all things Codex.

USDC Payments for Business: Costs, Settlement, and Setup

September 21, 2026

What Is Stablecoin FX Infrastructure? A Guide for PSPs and Fintechs

September 17, 2026

What Is Onchain FX? How Stablecoins Are Rebuilding Currency Exchange

September 14, 2026

How to Convert USDC and USDT to USD: Business Guide

September 7, 2026

Codex FX is a stablecoin-native FX platform, enabling businesses to convert, receive, and pay with fiat and stablecoins at institutional rates, 24/7.

Stablecoin rails for cross-border payments.

On/Off Ramp

One interface. One API.

The newFX standard

Wholesalerates

Settle inminutes

No hiddenfees

Emergingmarketcurrencies

Any asset,any direction