OKX Launches Stablecoin Savings and Payments App in Key Global Markets
OKX, a major crypto exchange, has launched a new standalone savings and payments app called OKX Money in select regions of Latin America, Africa, South Asia, and the Middle East. The app allows users to convert over 50 currencies into dollar-backed stablecoins like USDG, USDC, or USDT. Users can hold these stablecoins, transfer funds, and make purchases using virtual or physical cards.
Eligible customers can earn an annual percentage yield of up to 10% on USDG balances without needing to stake or lock up their funds. The rollout is happening market by market to comply with local regulations, though OKX has not disclosed the initial countries where the service is available. Rates and eligibility will vary by region and customer, with higher reward tiers available for those meeting specific deposit, spending, or VIP status thresholds.
The launch comes as stablecoins expand beyond trading into payments, remittances, and savings. Cross-border stablecoin flows reportedly rose 77.5% to $220.3 billion in the 12 months through June 2026, according to Chainalysis data. OKX joined Paxos’ Global Dollar Network in July 2025, giving users access to USDG for trading and transfers, with reserves including U.S. Treasury bills and money market funds.
The new product is designed to provide users with dollar-denominated savings and spending options while reducing foreign-exchange costs. OKX Money does not add foreign-exchange markups when customers spend in other currencies. The launch also highlights regulatory differences around stablecoin rewards, as the U.S. GENIUS Act prohibits payment stablecoin issuers from paying interest or yield, while the European Union’s Markets in Crypto-Assets Regulation restricts interest on single-currency stablecoins.