Ethereum's Layer 2 solutions currently handle 60% of the total network volume, with Arbitrum and Base accounting for 72% of Layer 2 volume. The Dencun upgrade has reduced Layer 2 fees by 90% to 98%, achieving a monthly transaction volume of 46 million by the second quarter of 2025. The Layer 2 solution provider focused on stablecoins, Codex, is set to launch in September 2025, having raised $16 million from Dragonfly Capital, Coinbase, and Circle. Codex focuses on cross-border payments in Africa, supporting USDC, USDT, and regional stablecoins like Nigeria's cNGN, while emphasizing Compliance and interoperability.

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