OKX launched OKX Money, a consumer app enabling users to convert over 50 local currencies directly into dollar-backed stablecoins including USDG, USDC and USDT.
The app offers up to 10 percent annual percentage yield on eligible USDG holdings with no lockup or staking requirements—a direct incentive for users to maintain stablecoin balances on the platform. It includes a virtual or physical card for global purchases with no foreign-exchange fee or markup, plus up to 10 percent cashback on eligible transactions and referral rewards.
OKX designed the product for markets where local currency volatility and limited access to dollar savings, global cards, or affordable cross-border payments create friction. The company secured a Maltese payments-institution license this year to support European stablecoin and card services.
OKX Money abstracts the blockchain element to target non-crypto users. Binance Pay offers similar stablecoin holding, global spending, passive yield and zero-gas cross-border payments. Coinbase One provides automated yield on USDC ranging from 3.75 percent to 5 percent based on membership and region. Bybit facilitates automatic fiat-to-stablecoin conversions and global spending through a Mastercard-backed card.
Crypto-card spending exceeded $1 billion this year as exchanges compete to integrate stablecoins into daily transactions. OKX, ranked third by CoinGecko with 24-hour trading volume over $2.2 billion, enters the space emphasizing accessibility and yield.
Product availability, specific rates and eligibility criteria vary by location. OKX has not disclosed initial launch countries or the entity providing the card program.
