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Cryptocurrency platform OKX launched a standalone mobile application, OKX Money, on Oct. 6 to provide digital dollar savings, international money transfers and payment card services.
The application allows users in participating markets across Latin America, Africa, South Asia and the Middle East to convert more than 50 local currencies into US dollar-backed stablecoins. Qualifying customers can automatically earn an annual percentage yield of up to 10% on eligible USDG balances without staking or lock-up periods.
OKX Money provides virtual and physical debit cards that enable users to spend foreign currencies without added foreign exchange markups. The platform offers up to 10% cashback on eligible purchases through a five-tier loyalty program, as well as a multi-level referral reward structure.
By conducting transactions with dollar-pegged stablecoins including USDG, USDC and USDT, the app aims to eliminate traditional conversion markups that typically add 2% to 5% to cross-border transfer costs. Users can hold balances and convert between supported stablecoins without conversion fees.
The app operates under OKX’s existing security infrastructure and regulatory frameworks in more than 30 jurisdictions. Headquartered in San Jose, California and Dubai, United Arab Emirates, OKX serves over 150 million customers worldwide.
This article is published on BitPinas: OKX Launches Standalone OKX Money App to Offer Digital Dollar Savings and Payments
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