OKX Launches OKX Money Stablecoin Savings and Payments App in Latin America, Africa, Asia, and the Middle East
Key Takeaways
- •OKX Money enables users in parts Latin America, Africa, South Asia, and the Middle East to convert more than 50 currencies into USDG, USDC, or USDT for transfers, savings, and purchases with virtual or physical cards.
- •Eligible customers can earn up to 10% APY on USDG balances without staking requirements or lock-up periods, with higher reward tiers available through deposit thresholds, spending requirements, or OKX VIP status.
- •OKX has not disclosed the initial countries where the service is available or the source of funding for the yield.
- •The launch follows growth in cross-border stablecoin flows, which rose 77.5% to $220.3 billion in the 12 months through June 2026, according to Chainalysis data.
- •None of the launch regions fall under the U.S. GENIUS Act or the EU's MiCA regulation, both of which prohibit paying interest on stablecoins.
Crypto exchange OKX has launched a standalone savings and payments application, OKX Money, in parts of Latin America, Africa, South Asia, and the Middle East, enabling users to convert more than 50 currencies into dollar-backed stablecoins and earn returns on eligible balances.
Through the app, users can hold USDG, USDC, or USDT — dollar-backed stablecoins issued by Paxos, Circle, and Tether, respectively — transfer funds, and make purchases using virtual or physical payment cards.
Up to 10% APY on USDG Balances
According to OKX, eligible customers can earn an annual percentage yield (APY) of up to 10% on USDG balances, with no staking requirement and no lock-up period attached to the rewards.
The exchange said the rollout will proceed market by market to comply with local requirements, but it did not disclose the initial countries where the service is available. Rates and eligibility will vary by region and by customer.
A company spokesperson said customers can qualify for higher reward tiers by meeting a 30-day average deposit threshold, exceeding a 30-day spending requirement, or attaining a higher OKX VIP status. OKX did not disclose how the yield is funded.
Stablecoin Adoption Grows Beyond Trading
The launch comes as stablecoins expand beyond cryptocurrency trading into mainstream use cases such as payments, remittances, and savings. According to Chainalysis data, cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months through June 2026. That cross-border movement of money is the use case OKX Money is built around: converting local currencies into dollar stablecoins for transfers, savings, and card spending.
OKX joined Paxos' Global Dollar Network in July 2025, giving the exchange's users access to USDG for trading and transfers. According to Paxos, reserves backing USDG include U.S. Treasury bills, money market funds, and cash.
Diverging Regulatory Rules on Stablecoin Rewards
The launch also highlights regulatory differences around stablecoin rewards across major jurisdictions. In the United States, the GENIUS Act prohibits payment stablecoin issuers from paying interest or yield. In the European Union, the Markets in Crypto-Assets Regulation (MiCA) prohibits both issuers and crypto service providers from granting interest on single-currency stablecoins. None of the regions named in the launch — Latin America, Africa, South Asia, and the Middle East — fall under those two regimes.
OKX said the new product is designed to give users access to dollar-denominated savings and spending while reducing foreign-exchange costs. The company added that OKX Money does not add foreign-exchange markups when customers spend in other currencies.
Source: BitcoinKE
