Hoanan Li

Co-founder and CEO of Codex, building neutral Ethereum infrastructure for stablecoins and on-chain FX products aimed at reducing fiat↔crypto friction and enabling regional stablecoins.

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Dec 5, 2025 • 19min

Ethereum's New Stablecoin Chain with Haonan Li

Hoanan Li, co-founder and CEO of Codex, dives into building neutral infrastructure for stablecoins on Ethereum. He discusses why Codex opted for an Ethereum layer over launching a new blockchain and critiques the 'research fetish' in crypto. Hoanan explains how Codex FX aims to tackle the $7.5 trillion FX market, enabling local stablecoin swaps without relying on USD intermediaries. He reveals plans to reshape global commerce through on-chain direct swaps and offers insights into Codex's roadmap for community profits.

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