OKX, a leading global cryptocurrency exchange and onchain technology company serving over 150 million customers worldwide, has announced the launch of OKX Money.
The app debuted globally on October 6 during OKX Now, the company’s flagship product event, with Nigeria, Kenya and South Africa among its first markets.
It allows users to securely save, transfer, and spend digital dollars. Users may earn yields on qualifying balances, execute international transactions without incurring foreign exchange fees, and obtain cashback rewards on eligible expenditures.
OKX Money provides a streamlined onboarding process: upon depositing funds via any of the more than 50 supported local currencies, the capital is automatically converted into US dollar-backed stablecoins.
Eligible clients can automatically generate up to a 10% APY on qualified USDG holdings, transact directly through the application, and earn up to 10% cashback on qualifying purchases. Currently, OKX Money is also available across markets in Latin America, Africa, South Asia 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. 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.
Designed for flexibility and accessibility, OKX Money features several core capabilities for managing digital dollars. Customers can hold USDG, USDC, or USDT balances tied directly to the US dollar while enjoying zero-fee conversions across supported stablecoins..
Eligible users holding USDG can automatically accrue up to 10% APY without needing to lock up or stake their assets. When paying abroad with a physical or virtual card, customers pay zero foreign exchange charges and avoid hidden markup fees.
Users can also earn up to 10% cashback through a five-tier reward structure. The platform’s referral initiative allows customers to earn commissions when invited contacts activate and spend with their cards, along with second-tier network referral commissions in eligible regions.
This streamlined experience is backed by robust compliance standards and industry-leading security. OKX maintains active licenses across over 30 jurisdictions, leveraging the same trusted infrastructure that powers its global exchange to safeguard OKX Money.
OKX Money is available to download today in participating markets. To learn more, visit okx.com.
OKX launches OKX Money- Unlocking new era of Digital Dollar Savings, everyday spending