Crypto News

🔷🔶 Codex, a blockchain startup, has raised $15.8 million to build a dedicated Layer 2 network for stablecoins. This is a sign of the rise of developers capitalizing on the potential of the stablecoin market and regulatory clarity around fiat-denominated stablecoin assets. The seed round is led by Dragonfly Capital, with participation from Coinbase, Circle, Cumberland Labs, Wintermute Ventures, and others. Codex will build a stablecoin platform from the ground up, focusing on creating a predictable and stable fee structure that is unaffected by volatile blockchain activity. The company also aims to develop stablecoin “off-ramps” that will allow users to withdraw stablecoins into fiat currencies.