OKX Launches Stablecoin Savings and Payments App Across Africa and Other Emerging Markets
OKX Money lets users in parts of Africa, Latin America, South Asia and the Middle East convert over 50 currencies into dollar-backed stablecoins and earn yield.
AfroEuropa Newsroom
AfroEuropa desk
Cryptocurrency exchange OKX has introduced a standalone savings and payments application in parts of Africa, Latin America, South Asia and the Middle East, according to BitKE and Cointelegraph.
The app, called OKX Money, lets users convert more than 50 currencies into dollar-backed stablecoins and earn returns on eligible balances. Users can hold USDG, USDC or USDT, send funds, and make purchases through virtual or physical cards.
OKX said eligible customers can earn an annual percentage yield of up to 10% on USDG balances without staking or a lock-up period. Rates and eligibility vary by region and customer. According to a company spokesperson cited by BitKE, customers can qualify for higher reward tiers by meeting a 30-day average deposit threshold, exceeding a 30-day spending requirement, or reaching a higher OKX VIP status. OKX did not say how the yield is funded.
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