The $1B Volume Playbook: How Codex Cracked Stablecoin FX with Haonan Li

Stablecoin FX is broken. It's expensive, slow, and built on outdated hierarchies.

Haonan Li from Codex explains how crypto rails can flatten these costs and why developing markets, not dollar-euro pairs, are where the real opportunity lies.

He breaks down the "Griffin company" approach blending crypto-native tactics with traditional fintech knowledge.

We cover:

- Why Stablecoin FX Is Still Stuck in Trad Finance Mode
- The $1B Volume Milestone & Path to Scale
- Developing Markets: The Real Opportunity
- Regional Stablecoins: Speculation vs. Utility
- The "Griffin Company" Advantage
- Stablecoin Regulation: Banks vs. Crypto Players
- Will Yield on Stablecoins Survive DC Politics?

The Rollup