SINGAPORE – OKX, a leading global cryptocurrency exchange and onchain technology company with more than 150 million customers worldwide, today announced the launch of OKX Money, a standalone app that lets people save, send and spend digital dollars. Customers can earn on eligible balances, spend globally with zero foreign exchange fees, and receive cashback on qualifying purchases.
OKX Money went live globally on October 6 during OKX Now, the company’s flagship product event.
OKX Money makes it easy to get started: when customers fund their account using one of more than 50 supported local currencies, the funds are converted into dollar-backed stablecoins. Qualifying customers can automatically earn up to 10% APY on eligible USDG balances, spend from the same app, and receive up to 10% cashback on eligible purchases.
OKX Money is initially available across markets in Latin America, Africa (such as South Africa, Kenya, Nigeria), South Asia (such as Pakistan, Bangladesh) and the Middle East. In some regions, currency fluctuations, limited access to banking services and foreign exchange fees can make it difficult to protect savings and spend globally. OKX Money gives people a convenient way to use digital dollars, participate in the global economy and make their money work harder. By using stablecoins for payments, customers can move money at the speed of the internet while avoiding conversion costs that can add 2% to 5% to typical cross-border transactions.
Key features of OKX Money include:
- Dollar-denominated savings: Hold USDG, USDC or USDT, all pegged to the US dollar, and convert between supported stablecoins without conversion fees.
- Stablecoin-enabled payments: Send money instantly worldwide.
- Up to 10% APY: Eligible USDG balances can earn up to 10% APY automatically for qualifying customers, with no staking or lock-up required.
- Zero FX fees: Spend in foreign currencies using a virtual or physical card without an added conversion markup.
- Up to 10% cashback: Eligible customers can receive cashback on qualifying purchases through a five-tier loyalty program.
- Referral rewards: Customers can receive commissions when people they invite activate and use their cards, plus a smaller second-layer commission from eligible referrals made by their network in participating markets.
OKX pairs this accessible design with a strong commitment to security and compliance. The company operates under regulatory licensing frameworks in more than 30 jurisdictions, and OKX Money’s security features are powered by the same technology that has made OKX one of the industry’s leading exchanges.
OKX Money is available to download today in participating markets. To learn more, visit okx.com.
