OKX launched a stablecoin savings and payment application OKX Money, offering up to 10% annual yield

According to Cointelegraph, the cryptocurrency exchange OKX has launched the stablecoin savings and payment application OKX Money in parts of Latin America, Africa, South Asia, and the Middle East. The application allows users to deposit into their accounts using over 50 supported currencies, with deposits converted into a dollar-backed stablecoin.

Users can hold USDG, USDC, or USDT for transfers and spend using a virtual card or physical card. Eligible customers can earn up to 10% annual percentage yield (APY) on qualifying USDG balances without the need for staking or locking.

An OKX spokesperson stated that the product is rolled out market by market to comply with local requirements, and the relevant legal entities and regulatory frameworks vary by jurisdiction. OKX did not disclose specific initial markets. Users can achieve higher tiers by meeting a 30-day average deposit threshold, spending over 30 days, or reaching a higher exchange VIP level. The spokesperson mentioned that rates and eligibility vary by region and customer, and declined to comment on the source of the yields.

OKX joined Paxos' Global Dollar Network in July 2025, allowing its users to transact and transfer using USDG. According to Chainalysis data, cross-border flows of stablecoins grew by 77.5% to $22.03 billion in the 12 months ending June 2026, with trade, remittances, and savings being the main use cases. The U.S. GENIUS Act prohibits stablecoin issuers from paying interest or yields, while the EU MiCA prohibits issuers and crypto service providers from offering interest on single currency stablecoins.