Haonan Li: Ethereum's Big Bet on Stablecoin Chains Is Here

Ethereum's neutral infrastructure for all stablecoins is here.

In this episode of Stabled Up, Haonan Li, co-founder and CEO of Codex, shares how they're building Ethereum's dedicated infrastructure for stablecoins and why they chose to build on Ethereum rather than launch their own L1.

From attacking the $7.5 trillion FX market to enabling regional stablecoins without USD intermediaries, Haonan explains why the "research fetish" problem is holding crypto back and what institutional banking actually needs.

We discuss:

- Why Codex Chose Ethereum Over Building an L1
- The "Research Fetish" Problem in Crypto
- How Codex FX Attacks the $7.5T FX Market
- Regional Stablecoins Without USD Intermediaries
- Banking Licenses & Institutional BD Nobody Wants to Do

The Rollup