- •OKX Pay enables self‑custodial stablecoin payments with QR codes.
- •Users can earn 4% APY and up to 4% cashback.
- •Expansion to Brazil, Europe, and the U.S. is on the roadmap.
At TOKEN2049 Singapore, OKX CEO Star Xu introduced the world to OKX Pay, a new self‑custodial payment platform built on OKX’s Ethereum Layer‑2 network, X Layer. This marks his first full public briefing on the ambitious OKX Pay Vision — a decentralized system aimed at reestablishing peer‑to‑peer payments using stablecoins.
The platform is now live in Singapore, allowing users to make payments through QR codes, similar to traditional mobile payment apps but with blockchain benefits. By focusing on user autonomy and digital assets, OKX Pay empowers individuals to send and receive payments without relying on intermediaries.
Benefits for Users: Yield and Cashback
One of the standout features of OKX Pay is its attractive incentives. Users can earn approximately 4% annual percentage yield (APY) on their balance and 3–4% cashback on purchases. These financial rewards are designed to drive adoption and encourage the use of stablecoins in everyday transactions.
OKX Pay supports leading stablecoins, leveraging the security and speed of Ethereum Layer‑2 scaling to keep fees low and transactions fast. This approach not only enhances user experience but also aligns with OKX’s vision of making stablecoins a reliable global payment infrastructure.
Although currently active only in Singapore, OKX has ambitious plans for expansion. The service is set to roll out in Brazil, Europe, and the United States, where regulatory clarity around stablecoins is gradually improving.
By tapping into these large and diverse markets, OKX aims to redefine digital payments on a global scale. The focus remains on making decentralized, user‑controlled financial tools accessible and practical for everyday use.
The OKX Pay Vision isn’t just a payment tool—it’s a statement about the future of finance: decentralized, inclusive, and powered by crypto.