Crypto exchange OKX has officially launched OKX Money, a stablecoin savings and payment app targeting users in Latin America, Africa, South Asia, and the Middle East. Users can store funds in USDG, USDC, or USDT, send cross-border payments, and transact using physical or virtual cards.
The primary draw of the OKX service is an annual percentage yield (APY) reaching up to 10% on eligible USDG balances. The crypto exchange offers this interest without requiring staking or a lockup period.
To top up balances, users can deposit over 50 different platform-supported fiat currencies, which the system automatically converts into stablecoins. Users can also aim for higher qualification tiers based on their average monthly deposits, 30-day spending volume, or VIP status on the main exchange.
Staying Beyond the Reach of US and European Regulations
OKX has not yet revealed the specific countries included in its initial rollout. The exchange’s decision to target emerging markets aligns with a global regulatory landscape that is increasingly restricting yield-bearing stablecoins.
In the United States, the draft GENIUS Act officially bars payment stablecoin issuers from offering interest. The European Union’s MiCA regulation also enforces a similar ban on issuers and crypto asset service providers dealing with single-currency stablecoins. OKX is free to offer a 10% yield because OKX Money’s operational footprint falls outside the jurisdiction of both strict frameworks.
Capturing $220 Billion in Cross-Border Flows
The move to focus on developing regions intersects with a sharp surge in stablecoin adoption across those markets. Chainalysis data shows cross-border stablecoin flow volume climbed 77.5% to surpass $220.3 billion over the 12 months ending in June 2026. These transaction volumes were driven by real-world use cases such as commercial trade, remittances, and personal savings.
User access to USDG assets within the OKX Money app stems from the exchange joining Paxos’s Global Dollar Network in July 2025.
Where Is the Money Coming From?
Beneath the offer of yield without lockup requirements, the source of funding has raised questions. OKX declined to comment on the funding mechanism that backs the 10% yield payouts for customers when pressed for clarification by the media.
The crypto industry has a troubled track record when it comes to high-yield stablecoin promises. Anchor Protocol famously drew users with a 20% APY on the UST stablecoin, which ultimately led to the protocol’s collapse in May 2022. While OKX Money’s 10% offer is half that of Anchor, the exchange’s refusal to disclose its source of funds leaves room for uncertainty among prospective users.
Reported via Cointelegraph.
Also read: What Is DeFi (Decentralized Finance)?
Also read: 46% of Asia-Pacific Consumers Ready to Use Stablecoins - But 41% Mistakenly Think Prices Always Rise
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
