OKX Launches Stablecoin Savings and Payment App, Annual Yield on Eligible USDG Balances Up to 10%

Odaily Planet Daily News: Cryptocurrency exchange platform OKX has announced the launch of its stablecoin savings and payment app, OKX Money, which is now available in parts of Latin America, Africa, South Asia, and the Middle East. Eligible USDG balances can earn an annual yield of up to 10%. Users can recharge their accounts using over 50 supported currencies, which will be converted into USD-backed stablecoins, allowing them to hold, send, and spend USDG, USDC, or USDT. The app supports both virtual and physical cards, and eligible USDG balances can earn yields without requiring staking or locking. OKX stated that the app will be rolled out gradually based on regional requirements, with specific legal entities and regulatory frameworks varying by jurisdiction. The initial launch markets have not yet been disclosed. Yield rates and eligibility criteria vary by region and user, and users can achieve higher yield tiers by meeting a 30-day average deposit threshold, reaching a 30-day spending amount, or upgrading their exchange VIP level. (Cointelegraph)