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DUBAI/SINGAPORE - October 8, 2025 - Bybit, the world's second-largest cryptocurrency exchange by trading volume, has become the first Tier-1 global exchange to integrate the Codex blockchain. Codex is built on Ethereum and is a high-throughput, EVM-equivalent Layer 2 blockchain purpose-built for stablecoin-native payments, FX, and settlement.
“The future of onchain finance will be built on Ethereum, and Codex will serve as its dedicated stablecoin layer. We are happy to partner with Bybit to enable global access to the benefits that Codex provides,” said Haonan Li, Co-Founder and CEO of Codex.
The integration enables consumers, businesses, and institutions using Bybit to seamlessly deposit and withdraw stablecoins using the Codex blockchain. Unlike general-purpose chains, Codex is optimized at every layer for stablecoin applications, including fee design, gas abstraction, and compliance. Use cases for Codex include:
- Cross-border payments: enabling instant, low-cost settlement for global merchants and enterprises.
- Institutional settlement: offering predictable, compliant, and final settlement rails for financial institutions.
- Corporate treasury management: allowing businesses to hold, transfer, and program liquidity across multiple jurisdictions.
- Onramps and offramps: connecting stablecoins with local banking systems for easy conversion to and from fiat.
“Stablecoins represent one of the most transformative innovations in global finance. At Bybit, we see massive opportunities ahead as stablecoins become the default medium for payments and settlement. Partnering with Codex, a blockchain purpose-built for stablecoins, allows us to bring these opportunities directly to our users,” said Emily Bao, Head of Spot at Bybit.
Later this year, Bybit and Codex will roll out a limited-time, chain-exclusive USDC Earn Campaign, providing eligible users with enhanced APRs on fixed-term Earn pools.
About Codex
Codex is Ethereum’s stablecoin chain. Codex blockchain is a high-throughput, EVM-equivalent Layer 2 blockchain purpose-built for stablecoins. Codex extends Ethereum's capabilities with fiat-compatible primitives through native onramp and offramp transactions, compliance and identity mechanisms, native FX, and finality guarantees, enabling the real-world use cases that enterprises and institutions require.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.