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USDG OKX launches "OKX Money": a stablecoin savings and payments application for emerging markets
Cryptocurrency exchange OKX has launched a financial application called "OKX Money" to help emerging market users manage, transfer and consume stablecoins pegged to the U.S. dollar. The service has been deployed in selected markets in Latin America, Africa, South Asia and the Middle East.
This app supports deposits in more than 50 fiat currencies. After users recharge, funds will be automatically converted to three available stablecoins: USDG, USDC and USDT. Account holders can not only transfer funds and maintain balances, but also spend through virtual or physical payment cards. According to OKX, users do not charge foreign exchange handling fees when using their cards to spend.
Revenue structure and requirements
The core function of attracting users is revenue opportunities. Eligible participants receive an annualized rate of return (APY) of up to 10% on eligible USDG deposits. The plan does not require pledge commitments and has no capital lock-in period requirements.
OKX representatives revealed to the media that the yield depends on multiple factors, including the customer's average balance in the past 30 days, monthly consumption amount and whether they have VIP status on the main trading platform. However, the exchange did not disclose the source of revenue funds or say which regions would receive priority access. Understanding the revenue mechanism is crucial for users to assess the risk characteristics of the return.
OKX pointed out that the service will be gradually expanded by region, and the specific launch market has not yet been announced. The company emphasizes that deployments in each territory will comply with applicable local financial regulations and legal frameworks.
Application scenarios beyond trading
The adoption of stablecoins in non-trading areas is accelerating. According to blockchain analytics firm Chainalysis, cross-border transactions using stablecoins increased by 77.5% to US$220.3 billion in the twelve months to June 2026. Research points to international trade, remittance services and savings as the main drivers. This is consistent with OKX's strategic focus on providing services in economies where local currencies are unstable and remittance services are expensive.
Previous high-yield stablecoin products have faced problems. For example, Anchor Protocol once provided nearly 20% yield to the algorithmic stablecoin TerraUSD, but its value mechanism relied on swaps with LUNA tokens. In May 2022, TerraUSD's dollar peg failed, and both TerraUSD and LUNA suffered catastrophic collapses. In contrast, the USDG, USDC, and USDT claim to be fully backed by reserve assets, which reportedly include U.S. Treasuries, money-market fund positions, and cash equivalents. This support structure is significantly different from the stablecoin income projects that encountered difficulties in the early stages.
Regulatory environment and challenges
Regulatory frameworks for stablecoin earnings vary widely among countries. The GENIUS Act in the United States prohibits issuers of payment stablecoins from directly allocating interest or income to holders. Traditional banking advocates have also called for limits on incentive programs offered by exchanges. In the European Union, the Cryptocurrency Asset Markets Regulation (MiCA) prevents issuers and crypto service platforms from paying interest on a single currency stablecoin. These restrictions suggest that OKX Money's revenue function may be limited in certain major markets.
此次应用的发布正值OKX完成一轮融资之后。今年3月，OKX通过涉及洲际交易所（ICE）的投资轮次确立了250亿美元的估值。此外，OKX最近还推出了“OKX Shield”安全计划，为受第三方未经授权的账户访问影响的客户提供最高10万美元的赔偿保障。
