OKX Launches Stablecoin Savings App for Emerging Markets

OKX, a major crypto exchange, has introduced OKX Money, a new stablecoin savings and payments app, targeting emerging markets in Latin America, Africa, South Asia, and the Middle East. The app offers users the chance to earn up to a 10% annual percentage yield (APY) on eligible USDG balances without requiring staking or lockup periods. Users can fund accounts with over 50 currencies, which are then converted into dollar-backed stablecoins like USDG, USDC, or USDT.

OKX Money allows users to send funds and spend using virtual or physical cards. The rollout is happening gradually, with local regulations and legal entities varying by jurisdiction. The exchange joined Paxos’s Global Dollar Network in July 2025, providing users with access to USDG for trading and transfers. Stablecoins are increasingly being used for purposes beyond crypto trading, with cross-border flows rising 77.5% to $220.3 billion in the 12 months ending June 2026, according to Chainalysis.

The spokesperson for OKX did not disclose how the 10% yield is funded. Customers can qualify for higher yields by meeting certain deposit, spending, or Exchange VIP status thresholds. The rates and eligibility vary by region and customer. Earlier stablecoin yield products, such as Anchor Protocol, offered high returns but collapsed when TerraUSD (UST) lost its peg in May 2022. By contrast, USDG, USDC, and USDT are fully backed by asset reserves, ensuring greater stability.

Regulatory challenges exist, such as the US GENIUS Act banning payment stablecoin issuers from paying interest or yield, and the EU’s Markets in Crypto Assets Regulation prohibiting interest on single-currency stablecoins. Despite these hurdles, OKX Money represents a significant step in expanding stablecoin utility in emerging markets.