TLDR OKX launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East. Users can fund accounts in more than 50 currencies, whic
Crypto exchange OKX has launched a new app called OKX Money. The app lets users save and pay with stablecoins, which are digital tokens tied to the US dollar.
The service is rolling out in parts of Latin America, Africa, South Asia and the Middle East. Some customers can earn as much as 10% yield on their balances.
Users can fund their accounts with more than 50 supported currencies. Deposits are then converted into dollar-backed stablecoins, according to an announcement shared with Cointelegraph.
Customers can hold USDG, USDC or USDT inside the app. They can also send funds to others and spend money using virtual or physical cards.
Qualifying users can earn an annual percentage yield of up to 10% on eligible USDG balances. The rewards do not require staking or a lockup period.
OKX joined Paxos’s Global Dollar Network in July 2025. That move gave its users access to USDG for trading and transfers.
A spokesperson explained how customers reach higher reward tiers. “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 by customer. The spokesperson declined to comment when asked how the yield is funded.
Earlier stablecoin yield products have ended badly. Anchor Protocol once offered returns of up to 20% on TerraUSD, an algorithmic stablecoin whose dollar peg relied on conversion into the LUNA token.
TerraUSD lost its peg in May 2022. Both TerraUSD and LUNA collapsed soon after.
USDG, USDC and USDT work differently. Their issuers say they are fully backed by asset reserves.
Some newer stablecoin reward programs share reserve income or offer loyalty rewards funded by exchanges. Paxos’s Global Dollar Network passes earnings from USDG reserves to its partners. Those reserves include US Treasury bills, money market funds and cash.
Rules on stablecoin yield differ around the world. The US GENIUS Act bans payment stablecoin issuers from paying interest or yield.
Banking groups have also pushed for limits on rewards paid by exchanges. In the European Union, the Markets in Crypto Assets Regulation stops issuers and crypto service providers from paying interest on single-currency stablecoins.
Stablecoins are being used more often outside of crypto trading. Cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months ending June 2026, according to Chainalysis.
Chainalysis pointed to trade, remittances and savings as key uses for stablecoins.
OKX said the rollout is happening market by market to meet local requirements. The legal entity and rules that apply vary by country, and the exchange has not named its first launch markets.
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