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

OKX Money lets users hold, send and spend dollar-backed stablecoins, with qualifying USDG balances earning up to 10% APY.

Crypto exchange OKX has launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East, that will pay some customers as much as 10% yield.

The app allows users to fund accounts using more than 50 supported currencies, with deposits converted into dollar-backed stablecoins, according to an announcement shared with Cointelegraph.

Users can hold USDG, USDC or USDT, send funds and spend with virtual or physical cards. Qualifying customers can earn an annual percentage yield (APY) of up to 10% on eligible USDG balances without staking or a lockup.

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