The blockchain focused on stable deviations was launched with the support of Circle Ventures, aimed at meeting the growing demand for USD pointed token.
Codex, a new blockchain network for the stablescoins which obtained $ 16 million earlier this year from Dragonfly Capital, Coinbase, Circle Ventures and other notable investors, officially launched its Mainnet to help make dollars digital for daily finance.
The network was put online today, on June 24, with native care for the USDC, which means that stablecoin can move through Codex without the need for a bridge or transverse packaging. According to a press release shared with the DESIDER, the CODEX objective is to offer a more fluid means for companies and institutions to use stablecoins, as is their global capitalization recently exceeded $ 250 billion.
Codex co-founder Haonan Li said in an interview with The Deviant that the project was trying to resolve what it considers the real challenge in the adoption of stablecoin, and not on blockchain speed or transaction limits, but the gap between crypto and traditional money.
“In our opinion, neither the TPS nor the latency are really the bottlenecks for the adoption of the stablescoin today,” he said. “Real bottlenecks are all on the border of Fiat <> crypto. Blockchain teams have historically did not focus on these border problems, they generally do not have the interest or expertise to solve these problems.”
Large -scale confidentiality
To remedy this, Codex works on licenses, partnerships with payment ramps and banking relationships, known as Li. Developers plan to deploy features such as instant currency exchanges, atomic discharge ramps that do not leave the money for blocked users due to compliance problems and more reliable cash delivery systems are slow or unworthy of confidence.
The Codex exchange platform – called Codex avenue – already offers transactions between Stablecoins and Fiat, including large transactions close to pricing 1: 1, revealed the team in the press release. Additional features, such as automated compliance checks and the delivery of Fiat without risk using validators held responsible by the network itself, are expected at the end of 2025.
“This is why Codex will be there that the future of the stable will occur, and why we are proud to work with stable transmitters like Circle,” said Li.
Asked about chain confidentiality features, Li declared that Codex is working with the best crypto teams to allow certain parts of transactions to remain private, while meeting the standards of conformity. The chain will use new zero knowledge and encryption tools to offer this type of confidentiality on a large scale. “More to share soon,” he hinted, without diving into technical details.
While the Codex launches with the USDC, Li confirmed that the team planned to support all the main stablecoins, including the EURC de Tether de Tether and Euro de Circle. “Codex works with all issuers. We believe that the Stablecoin chain of the future must provide native access to all stablecoins,” he said to the DESIDER, although no chronology of these integrations has been specified.
Earlier this month, another blockchain focused on Stablescoin, Plasma, experienced an overwhelming request for participation in its $ 50 million token sale, while Circle’s long-awaited Introduction on the long-awaited has also been suspected and, it turned out, undervalued-the two signs of high demand for exposure to stablescoins. Yesterday, Circle’s market capitalization exceeded the market capitalization in current USDC itself.
