What is Code & State?

Code & State is a venture studio turbocharging entrepreneurs to build stablecoin's future. Founded by operators-turned-investors Cédric Waldburger and Artia Moghbel, with deep crypto roots in Dfinity ($ICP), Liquity, Tenderloin, Tomahawk.VC, and Draft Ventures. We've built and backed winners.

We go beyond capital: hands-on partnership, shared wisdom, and elite networks to accelerate your success. We're founders teaming up with you to launch game-changing companies.

Mission & Vision

Stablecoins lead Web3’s real-world adoption with $33T+ in 2025 transaction volume - far surpassing Visa's ~$14-15T.

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• "Stablecoins bridge crypto to real economy." – Vitalik Buterin
• "Digital dollars people trust." – Balaji Srinivasan
• "Borderless payments for inclusion." – Brian Armstrong </aside>

Stablecoin Boom ahead: We see the market going to $3T in 5 years, potentially 5-10% of $100T global money. Code & State fuels this revolution by backing builders creating impactful stablecoin products for billions.

Why Join?

We invest early, brining builders in to co-build for 6-9 months while preparing for aseed funding.

• Hands-on: Guidance on ideation, product, GTM from day one.
• Shared Expertise: Crypto playbooks to dodge pitfalls and scale fast.
• Networks: Intros to investors, partners, talent—doors open instantly.
• Regulatory Edge: Navigate compliance to innovate boldly.

Full studio support: Focus on vision; we boost your odds.

Types of Ventures We Seek

Stablecoin MCAP to 10x in 5 years. Ideas like:

• Stablecoin banks for deposits/payments/savings.
• Insurance/risk tools for users.
• Privacy protocols for secure txns.