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Codex Launches CodexFx For Stablecoin Forex
Codex.xyz is introducing its official forex exchange product aimed at bringing transparent and instant stablecoin currency swaps.
CodexFX launches its much anticipated stablecoin forex exchange product for businesses (Annie Spratt / Unsplash)
Codex has officially launched CodexFX.
CodexFX will be able to provide instant quotes on stablecoin-to-fiat, fiat-to-stablecoin, and stablecoin-to-stablecoin exchanges. Top global currencies currently supported are USD, GBP, EUR, MXN and USDT, USDC stablecoins with liquidity built on top of stablecoin infrastructure.
CEO Haonan Li expressed:
“We built Codex FX because businesses in emerging markets deserve the same transaction speed and transparency that businesses in New York or London take for granted. We’ve built the best infrastructure for payment providers, fintechs and businesses to on-ramp, off-ramp, and swap across currencies in minutes, from anything to anything.”
With stablecoin forex, both settlement times and pricing can be much more transparent. Not all businesses and institutions are able to get wholesale FX rates to move corporate funds at faster speeds and cheaper fees, so this is the start of a new stablecoin economy.
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