OKX has launched the OKX Money app, a savings and payments service based on stablecoins, in parts of Latin America, Africa, South Asia, and the Middle East. Eligible clients can earn up to 10% APY on qualifying USDG balances without staking or lock-up.

The app supports deposits in 50+ currencies and cards

Users can fund their accounts in more than 50 currencies, after which funds are converted into dollar-backed stablecoins. The app supports USDG, USDC, and USDT, and offers transfers and spending via virtual and physical cards.

Rollout is phased and depends on local requirements

The launch of OKX Money is being carried out market by market, taking into account local regulations. The legal structure and regulatory regime vary by jurisdiction. Specific initial markets have not been disclosed.

Yield terms and statuses; source of payouts not disclosed

Rates and participation criteria differ by region and client. To access a higher tier, users may meet a 30-day average deposit threshold, exceed a 30-day spending volume, or hold a higher VIP status on the exchange. The company does not disclose the source of funding for USDG yields up to 10%.

Context: growth in stablecoin transfers and reward models

In July 2025, OKX joined the Paxos Global Dollar Network, gaining access to USDG for trading and transfers. According to Chainalysis, cross-border stablecoin flows for the 12 months ending June 2026 increased by 77.5% to $220.3 billion, driven by trading, remittances, and savings.

According to issuers, USDG, USDC, and USDT are fully backed by reserves. Current stablecoin reward programs may share reserve yields or offer exchange-funded bonuses. In the Global Dollar Network, USDG reserve income is distributed among partners; reserves include U.S. Treasury bills, money market funds, and cash. Previously, higher-yield products existed, such as Anchor Protocol with yields up to 20% on UST; in May 2022, UST lost its dollar peg and related tokens collapsed. In the U.S., the GENIUS Act proposes a ban on interest payments by payment stablecoin issuers, while in the EU, MiCA prohibits issuers and crypto services from paying interest on eponymous stablecoins.