TechFlow, April 4 — According to Fortune, stablecoin blockchain startup Codex has raised $15.8 million in seed funding.
The round was led by Dragonfly Capital with an investment of approximately $14 million, joined by Coinbase and Circle's venture arms, along with crypto market makers including Cumberland and Wintermute.
Codex is building a layer-2 blockchain based on Optimism, specifically designed for stablecoins, offering a stable fee mechanism and built-in fiat off-ramp capabilities. The company was founded by Haonan Li, a University of Pennsylvania graduate and former employee of Optimism. Co-founders include Victor Yaw from Malaysia's Forest Group family and Momo Ong, formerly a product manager at Meta. The funding round included equity and token warrants.
