OKX Money launches in emerging markets with up to 10% stablecoin yield

OKX has introduced a new product called OKX Money, a stablecoin savings and payments app targeting emerging markets. The app is now available in select regions of Latin America, Africa, South Asia, and the Middle East. It allows users to convert over 50 local currencies into dollar-backed stablecoins, including USDG, USDC, and USDT. The platform offers features like money transfers, balance holding, and spending via virtual or physical cards without foreign-exchange markup.

The standout feature of OKX Money is the yield it offers. Qualifying users can earn up to 10% annual percentage yield (APY) on eligible USDG balances, with no staking or lockup requirements. The yield rates depend on factors like average deposits, spending, and VIP status on the exchange. However, OKX has not disclosed how the yield is funded, leaving users to assess the associated risks.

The app's rollout will be gradual, with each market adhering to local legal and regulatory requirements. OKX joined Paxos’s Global Dollar Network in July 2025, gaining access to USDG for trading and transfers. Paxos distributes earnings from USDG reserves, which include US Treasury bills, money market funds, and cash, to its network partners. This approach contrasts with past stablecoin yield products that faced significant challenges.

Stablecoins are increasingly used beyond crypto trading, with cross-border flows rising 77.5% to $220.3 billion in the year ending June 2026, according to Chainalysis. Common use cases include trade, remittances, and savings, aligning with OKX’s focus on emerging markets where currency volatility and remittance costs are major concerns. The launch follows OKX’s March funding round that valued the exchange at $25 billion.