OKX eyes emerging markets with yield-offering stablecoin savings and payments app

OKX has launched OKX Money, a mobile payments and savings application that converts deposits made in over 50 fiat currencies into dollar-pegged stablecoins and is being rolled out to selected markets in Latin America, Africa, South Asia and the Middle East. The app allows users to hold USDG, USDC or USDT, send funds and spend via virtual or physical cards, according to an announcement shared with Cointelegraph. OKX is advertising an annual percentage yield of up to 10% on qualifying USDG balances, payable without staking or lockups. The exchange said eligibility for higher yield tiers depends on factors such as maintaining a 30-day average deposit threshold, meeting a 30-day spending requirement or attaining higher Exchange VIP status. OKX did not specify which countries will be included in the initial launch tranche. When asked how the yield is funded, a spokesperson declined to provide details. The announcement notes OKX joined Paxos’s Global Dollar Network in July 2025, which gives its users access to USDG for trading and transfers; Paxos’s network distributes earnings from USDG reserves to partners. Issuers of USDC, USDT and USDG state those tokens are backed by asset reserves that include cash, money market funds and US Treasury bills. The move comes as stablecoin use outside crypto trading has been growing: Chainalysis reported cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months ending June 2026, citing trade, remittances and savings as drivers. Regulation will be relevant to how such products operate: the US GENIUS Act would ban payment stablecoin issuers from paying interest, and the EU’s Markets in Crypto Assets Regulation bars issuers and crypto firms from granting interest on single-currency stablecoins. OKX said the rollout is proceeding market by market to align with local requirements and legal entities.