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OKX has launched OKX Money, a standalone app for saving, sending and spending dollar-backed stablecoins, the exchange announced on Tuesday. The app went live globally at OKX Now, the company's flagship product event, and is initially available in markets across Latin America, Africa, South Asia and the Middle East.
Users fund accounts in any of more than 50 supported local currencies, which are converted into stablecoins. They can hold USDG, USDC or USDT and switch between them without conversion fees. Qualifying customers can earn up to 10% APY on eligible USDG balances with no staking or lock-up, and spend through virtual or physical cards that carry no foreign exchange markup. A five-tier loyalty programme offers up to 10% cashback on qualifying purchases.
OKX is pitching the product at markets where currency volatility, limited banking access and FX fees make dollar savings hard to hold. The company says stablecoin payments avoid conversion costs that can add 2% to 5% to typical cross-border transactions.
USDG is issued by Paxos through regulated entities in Singapore and the EU, and OKX joined its Global Dollar Network in July 2025. The network shares revenue from USDG's reserves with partners, which gives OKX a funding source for rewards on that stablecoin specifically.
The headline rate deserves scrutiny. Tokenized Treasury products currently yield around 3.7% on average, according to RWA.xyz, so a 10% return on USDG implies either a tiered structure where few balances qualify for the top rate or a subsidy funded by OKX. The release does not set out the eligibility criteria behind either the APY or the cashback figure.
The referral design is also unusual for a savings product. Customers earn commissions when people they invite activate and use their cards, plus a smaller second-layer commission on referrals made by their own network in participating markets.
OKX says it operates under licensing frameworks in more than 30 jurisdictions and has over 150 million customers. The app's own disclaimer notes it may not be available in Singapore, where the release was datelined. How many of those customers move balances into OKX Money, and what rates they actually receive once promotional tiers apply, will show whether the app is a durable savings product or a customer-acquisition push.
