OKX Launches Stablecoin Savings App for Emerging Markets with 10% Yield

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

The rollout is being conducted market by market, adhering to local regulatory requirements. OKX joined Paxos’s Global Dollar Network in July 2025, enabling users to access USDG for trading and transfers. The app also supports virtual or physical cards for spending. A spokesperson noted that higher yields are available to users who meet specific deposit or spending thresholds or achieve a higher Exchange VIP status.

Stablecoins are increasingly being used beyond crypto trading, with cross-border flows rising 77.5% to $220.3 billion in the 12 months ending June 2026, according to Chainalysis. However, OKX did not disclose how the 10% yield is funded. Earlier stablecoin yield products, such as Anchor Protocol, offered high returns but collapsed when the peg of TerraUSD (UST) failed in May 2022.

In contrast, USDG, USDC, and USDT are fully backed by asset reserves, including US Treasury bills and cash. The US GENIUS Act and EU’s Markets in Crypto Assets Regulation impose restrictions on offering interest or yield on stablecoins, which may impact the long-term viability of such products.