OKX launches Money app with 10 percent USDG yield and stablecoin spending

OKX introduced OKX Money on Oct. 6, a standalone app that lets people save, send and spend dollar-backed stablecoins without touching an exchange order book. The company pitched it as digital dollars for daily life, in its launch announcement.

Customers can fund accounts in more than 50 supported currencies, with deposits converting into dollar-backed stablecoins. They can hold USDG, USDC or USDT and switch between supported stablecoins with no conversion fee, the announcement says.

Qualifying customers can earn up to 10 percent annual yield on eligible USDG balances, with no staking or lockup required. A customer can reach a higher tier by meeting a 30-day average deposit threshold, passing a 30-day spending amount or holding a higher Exchange VIP status, a spokesperson told Cointelegraph in its Oct. 6 report.

Spending runs through a virtual or physical card inside the same app. When a customer pays in another currency, OKX Money charges no foreign exchange fee and adds no conversion markup, the company says.

A loyalty program sits on top of the card. Eligible customers can earn up to 10 percent cashback on qualifying purchases, and a referral system pays commissions when invited users activate a card and spend, with further commissions when those friends refer others in turn. The company said it designed referral distribution for markets where trust travels through personal networks, in the same post.

The target user is not the existing crypto trader. Roughly 70 percent of the people OKX wants to reach with Money have never used a crypto application, so the app keeps blockchain mechanics in the background, the announcement says. Customers deal with saving, sending and spending rather than wallets and networks.

CoinDesk, in Oct. 6 coverage, said OKX appears to be keeping the chain out of sight for users who only want a dollar balance and a card. Wallet addresses, gas tokens and bridges create immediate friction for that group, that report added.

The rollout covers parts of Latin America, Africa, South Asia and the Middle East, Cointelegraph reported. OKX is starting in participating markets and expanding only as it shows the product performs, per the same post.

A spokesperson said the launch is proceeding market by market in line with local requirements, with the legal entity and regulatory framework differing by jurisdiction. The company did not name its first markets, in that account.

OKX operates under licensing frameworks in more than 30 jurisdictions, which it presents as the base for a long program in developing markets. The company said hundreds of millions of people lack dollar savings and low-cost global spending because the rails were never built for them, in the launch post.

One central detail remains undisclosed. Rates and eligibility vary by region and customer, and the spokesperson declined to say how the 10 percent yield is funded, Cointelegraph noted in the same report.

The context around stablecoin yield is unsettled. The U.S. GENIUS Act bars payment stablecoin issuers from paying interest or yield, while banking groups press for limits on exchange-paid rewards, and EU rules prohibit issuers and crypto service providers from granting interest on single-currency stablecoins. That regulatory summary comes from the same report and not from OKX.

OKX joined the Paxos Global Dollar Network in July 2025, giving its users access to USDG for trading and transfers. Demand for non-trading stablecoin use keeps climbing, with cross-border stablecoin flows up 77.5 percent to $220.3 billion in the year to June 2026, per Chainalysis data cited in that report.

Rivals are chasing the same everyday user. CoinDesk wrote that tracked crypto card spending passed $1 billion this year, and pointed to Binance Pay, the Bybit Card and Coinbase One as competing plays that pair stablecoin balances with yield and card spending.

Product availability, rates and features vary by region and eligibility, and OKX tells users to read the full terms before using Money. That limitation appears at the foot of the launch notice.