OKX Money lets users save, earn 10% yield and spend dollar stablecoins in one app
OKX has launched a new app feature allowing users to hold, spend, and earn yield on dollar-pegged stablecoins. The service targets non-crypto users in volatile markets by offering a familiar banking-like experience with global spending capabilities.
Why it matters
The move represents a broader industry trend of converting stablecoins from speculative trading assets into mainstream consumer financial products.
OKX Money allows users in participating markets to fund accounts with local currencies and hold USDG, USDC or USDT. Customers can send stablecoins, switch among supported tokens without conversion fees and use a card for purchases in other currencies, where OKX says it will charge no foreign-exchange fee or markup, according to a statement released Tuesday .
“Hundreds of millions of people have been excluded from dollar-denominated savings and frictionless global spending because the infrastructure was never built for them,” OKX said, adding that OKX Money is the first step in a longer program.
Qualifying customers can earn up to 10% annual percentage yield (APY) on eligible USDG holdings without a lockup or staking requirement, OKX said. The app also offers up to 10% cashback on eligible purchases and referral rewards. Product availability, rates, and eligibility vary by location.
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