OKX eyes emerging markets with yield-offering stablecoin savings and payments app

What happened: OKX launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East. Users can hold USDG, USDC or USDT, send funds and spend via virtual or physical cards. Key numbers: Up to 10% APY on eligible USDG balances. Over 50 supported currencies. Why it matters: OKX declined to say how the yield is funded, and rates and eligibility vary by region. The rollout proceeds market by market under local rules, as US and EU rules restrict stablecoin interest.

OKX launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East. Users can hold USDG, USDC or USDT, send funds and spend via virtual or physical cards.

OKX declined to say how the yield is funded, and rates and eligibility vary by region. The rollout proceeds market by market under local rules, as US and EU rules restrict stablecoin interest.