Crypto exchange OKX has launched OKX Money, a stablecoin savings and payments app available in parts of Latin America, Africa, South Asia and the Middle East. The application allows users to fund accounts using more than 50 supported currencies, with deposits converted into dollar-backed stablecoins.
Users can hold USDG, USDC or USDT, send funds and spend with virtual or physical cards. Qualifying customers can earn an annual percentage yield of up to 10% on eligible USDG balances without staking or lockup requirements.
Eligibility and Regional Rollout
Customers can qualify for higher yield tiers by meeting a 30-day average deposit threshold, exceeding a 30-day spending amount or achieving higher Exchange VIP status. An OKX spokesperson told Cointelegraph that rates and eligibility vary by region and customer.
The rollout is proceeding market by market in line with local requirements, with the relevant legal entity and regulatory framework varying by jurisdiction. OKX did not disclose its specific initial launch markets.
The exchange joined Paxos's Global Dollar Network in July 2025, giving users access to USDG for trading and transfers. When asked how the yield is funded, the spokesperson declined to comment.
Growing Stablecoin Adoption
Stablecoins are increasingly being used outside 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 key use cases.
Unlike algorithmic stablecoins such as TerraUSD, which lost its peg in May 2022, USDG, USDC and USDT are fully backed by asset reserves according to their issuers. Some stablecoin reward programs share reserve income or offer exchange-funded loyalty rewards. Paxos's Global Dollar Network distributes earnings from USDG reserves to partners, which include US Treasury bills, money market funds and cash.
Regulatory Considerations
The US GENIUS Act includes a ban on payment stablecoin issuers paying interest or yield. Banking groups have pushed for restrictions on exchange-paid rewards. In the European Union, the Markets in Crypto Assets Regulation prohibits issuers and crypto service providers from granting interest on single-currency stablecoins.
