OKX Money lets users save, earn 10% yield and spend dollar stablecoins in one app

OKX has introduced OKX Money, a consumer-facing app that enables eligible customers in participating markets to fund accounts in over 50 local currencies and hold dollar-pegged stablecoins (USDG, USDC or USDT). Users can transfer these stablecoins, swap among the supported tokens without conversion fees, and spend via a virtual or physical card. OKX says it will not apply foreign-exchange fees or markups when purchases are made in other currencies. The app offers qualifying customers rewards designed to encourage holding and spending stablecoins. OKX advertises up to 10% annual percentage yield on eligible USDG balances with no lockup or staking requirement, plus up to 10% cashback on qualifying card purchases and referral incentives. OKX cautions that product availability, eligibility and rates vary by jurisdiction. The rollout follows a wider industry trend in which exchanges and payments providers aim to normalize stablecoins as usable dollar balances for consumers. OKX’s product competes with services such as Binance Pay, Coinbase One and Bybit’s card-and-savings offerings, which similarly let users hold stablecoins, earn yield and spend globally. OKX said the app is aimed especially at non-crypto users and regions where access to dollar-denominated savings, global cards or low-cost cross-border payments is limited. OKX did not disclose which countries will be included in the initial launch nor identify the provider of the card program. The introduction also builds on OKX’s recent regulatory steps: the exchange obtained a Maltese payments-institution license this year to support European stablecoin and card services. OKX is ranked third by Coingecko, with a reported 24-hour trading volume above $2.2 billion.