OKX Money Launches Stablecoin Savings and Payments App

OKX has launched OKX Money, a standalone mobile app for stablecoin savings, cross-border transfers and everyday payments. The OKX Money app is initially available in selected markets across Latin America, Africa, South Asia and the Middle East, with access determined by local regulations, licensing and identity checks. Users can fund accounts with more than 50 currencies and convert balances into USDG, USDC or USDT. OKX says supported stablecoins can be held and converted without conversion fees. The app is designed to reduce foreign-exchange costs, which can reach about 2% to 5% through traditional providers, although rates and features vary by market. Eligible users can earn up to 10% APY on USDG without staking or a fixed lock-up. Rewards are paid weekly, but eligibility may depend on deposits, spending activity or VIP status. OKX has not explained how the advertised yield is funded, so traders should distinguish the reward from USDG’s reserves, which Paxos says are backed by cash and short-term US government securities. OKX Money also offers virtual and physical cards, up to 10% cashback through a five-tier loyalty programme and referral rewards. OKX says the service uses its existing security infrastructure and operates within regulatory frameworks across more than 30 jurisdictions. The launch expands OKX beyond crypto trading into stablecoin savings, remittances and payments. It could support longer-term demand for USDG, USDC and USDT, but limited availability, regulatory uncertainty and undisclosed yield funding reduce the immediate price impact.