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6.6 Stablecoins OKX launches OKX Money, an app for emerging markets to convert 50+ currencies into stablecoins, offering up to 10% yield, cards, and no FX markup, amid rising stablecoin adoption.
OKX has introduced OKX Money, a standalone app targeting users in emerging markets such as Latin America, Africa, South Asia, and the Middle East. The app enables conversion of over 50 local currencies into U.S. dollar-backed stablecoins, including USDG, USDC, and USDT. Users can hold, send, and spend stablecoins using virtual or physical cards, all without foreign-exchange markups. OKX Money also offers up to 10% annual yield on eligible USDG balances, with no staking or lockup required. The app aims to address challenges like currency volatility, limited banking access, and high FX fees. The rollout is proceeding market by market in compliance with local regulations, though specific launch regions have not been disclosed. This launch aligns with the growing adoption of stablecoins for trade, remittances, and savings, and follows OKX's recent $25 billion valuation. OKX continues to focus on compliance, transparency, and AI-driven infrastructure, with Deloitte as its global auditor. Collaboration with Mastercard highlights the convergence of digital assets and traditional banking.
