OKX Money App Brings Digital Dollar Savings and Global Payments

OKX, a major cryptocurrency platform, has introduced a new standalone app called OKX Money, launched on October 6. The app aims to provide digital dollar savings, international money transfers, and payment card services. It is available to users in Latin America, Africa, South Asia, and the Middle East, allowing them to convert over 50 local currencies into US dollar-backed stablecoins.

The app offers up to 10% annual percentage yield on eligible USDG balances without requiring staking or lock-up periods. Users can also access virtual and physical debit cards, which let them spend foreign currencies without additional foreign exchange markups. The platform features a five-tier loyalty program that provides up to 10% cashback on eligible purchases, along with a multi-level referral reward system.

OKX Money allows users to conduct transactions using stablecoins like USDG, USDC, and USDT, aiming to eliminate traditional conversion markups that typically add 2% to 5% to cross-border transfer costs. Users can hold balances and convert between supported stablecoins without conversion fees.

The app operates under OKX’s existing security infrastructure and regulatory frameworks in over 30 jurisdictions. Headquartered in San Jose, California, and Dubai, United Arab Emirates, OKX serves over 150 million customers globally.