Crypto exchange OKX has launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East. The app offers some customers annual yields of up to 10%.

According to an announcement shared with Cointelegraph, users can fund their accounts with more than 50 supported currencies. Deposits are converted into dollar-backed stablecoins, and users can hold USDG, USDC or USDT, send funds, and make payments with virtual or physical cards.

Qualifying customers can earn an annual percentage yield (APY) of up to 10% on eligible USDG balances without staking or a lockup. An OKX spokesperson told Cointelegraph that the rollout is taking place market by market, in accordance with local requirements. The relevant legal entity and regulatory framework vary by jurisdiction, and OKX did not disclose its specific initial launch markets.

OKX joined Paxos’s Global Dollar Network in July 2025, giving its users access to USDG for trading and transfers.

Stablecoins are increasingly being used for purposes beyond crypto trading. Cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months ending June 2026, according to Chainalysis, which cited trade, remittances and savings as use cases. OKX Money’s savings-and-payments design sits squarely within that shift beyond trading.

OKX does not disclose source of 10% yield

“Customers can qualify for a higher tier by meeting a 30-day average deposit threshold, exceeding a 30-day spending amount or achieving a higher Exchange VIP status,” the spokesperson said.

Rates and eligibility vary by region and customer, the spokesperson said. The representative declined to comment when asked how the yield is funded.

Earlier stablecoin yield products included Anchor Protocol, which offered returns of up to 20% on TerraUSD (UST). UST was an algorithmic stablecoin whose dollar peg depended on conversion into the linked LUNA token. UST lost its peg in May 2022, and both tokens subsequently collapsed.

By contrast, USDG, USDC and USDT are fully backed by asset reserves, according to their issuers. Some newer stablecoin reward programs share reserve income or provide exchange-funded loyalty rewards. Paxos’s Global Dollar Network distributes earnings from USDG reserves to partners. Those reserves include US Treasury bills, money market funds and cash.

The US GENIUS Act includes a ban on payment stablecoin issuers paying interest or yield, while banking groups have pushed for restrictions on rewards paid by exchanges. In the European Union, the Markets in Crypto Assets Regulation prohibits issuers and crypto service providers from granting interest on single-currency stablecoins. The regions OKX listed for the launch do not include the United States or the European Union. As the rollout proceeds market by market, the specific launch markets and the funding behind the 10% yield remain the key details to watch.