OKX Launches App for Stablecoin Savings and Spending

OKX has launched a new consumer app called OKX Money, designed to simplify stablecoin savings and spending. The app allows eligible users to convert over 50 local currencies into dollar-backed stablecoins like USDG, USDC, or USDT. Users can earn rewards on their balances and spend using a virtual or physical card without foreign-exchange fees or markups. The service aims to make dollar-denominated savings and global spending more accessible, particularly in markets with volatile local currencies.

Qualifying customers can earn up to 10% annual percentage yield (APY) on eligible USDG holdings without any lockup or staking requirements. The app also offers up to 10% cashback on eligible purchases and referral rewards. OKX positions this as the first step in a broader program to serve non-crypto users, abstracting the blockchain elements for simplicity.

While competitors like Binance Pay and Coinbase One offer similar features, OKX Money distinguishes itself by targeting non-crypto users. Binance Pay allows stablecoin spending with zero gas fees, and Coinbase One offers yields up to 5% on USDC. The rollout comes as exchanges and payments companies increasingly integrate stablecoins into everyday consumer finance.

OKX, ranked third by Coingecko with a 24-hour trading volume exceeding $2.2 billion, secured a Maltese payments-institution license this year. This move supports its push into European stablecoin and card services, furthering its consumer-finance initiatives.