OKX targets emerging markets with high-yield stablecoin app

OKX has launched 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 ability to deposit funds in over 50 currencies, which are then converted into stablecoins like USDG, USDC, or USDT. Users can hold, send, and spend these stablecoins using virtual or physical cards, with some qualifying customers earning an annual percentage yield (APY) of up to 10% on eligible USDG balances without staking or lockup requirements.

The rollout is happening market by market, adhering to local regulatory requirements. A spokesperson for OKX confirmed that the legal entity and regulatory framework vary by jurisdiction but did not disclose specific initial launch markets. The exchange joined Paxos’s Global Dollar Network in July 2025, enabling users to access USDG for trading and transfers.

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. Higher-tier yields are available to users who meet deposit thresholds, spending amounts, or achieve higher Exchange VIP status, though rates and eligibility vary by region.

The app’s stablecoin yield program contrasts with earlier efforts like Anchor Protocol, which offered high returns on the now-collapsed TerraUSD (UST). By contrast, USDG, USDC, and USDT are fully backed by asset reserves, including US Treasury bills, money market funds, and cash. However, regulatory restrictions in the US and EU may impact the sustainability of such yield offerings.