OKX launches stablecoin savings app with up to 10% yield in emerging markets

What happened

OKX has rolled out a stablecoin savings and payments app called OKX Money in parts of Latin America, Africa, South Asia and the Middle East. Qualifying customers can earn up to 10% APY on eligible USDG balances, and the product requires no staking or lockup.

Users can fund accounts in more than 50 supported currencies, and deposits are converted into dollar-backed stablecoins. The app supports USDG, USDC and USDT for holding, sending and card spending through virtual or physical cards.

OKX said the rollout will happen market by market, following local legal and regulatory requirements, with the relevant legal entity varying by jurisdiction. A spokesperson said rates and eligibility vary by region and customer, and declined to comment when asked how the yield is funded.

Why it matters

Yield rules differ sharply between regions. Stablecoin issuers in the United States cannot pay interest or yield under the GENIUS Act, and the EU's Markets in Crypto Assets Regulation bars issuers and crypto service providers from granting interest on single-currency stablecoins.

CoinCentral reported that OKX declined to say exactly how the yield is funded, a detail it said matters to users trying to understand the risk behind the return.

The top rate is not automatic. A spokesperson said customers can reach a higher tier through a 30-day average deposit threshold, a 30-day spending amount or a higher Exchange VIP status.

What the data shows

Chainalysis put cross-border stablecoin flows at $220.3 billion in the 12 months ending June 2026, a rise of 77.5%, and pointed to trade, remittances and savings as common use cases.

OKX Money pays up to 10% APY on eligible USDG balances. Accounts can be funded in more than 50 currencies, which are converted into dollar-backed stablecoins on deposit.

Background

Earlier stablecoin yield products had worse outcomes. Anchor Protocol paid up to 20% on TerraUSD, an algorithmic stablecoin whose dollar peg relied on conversion into the linked LUNA token, and UST lost its peg in May 2022. Both tokens collapsed afterwards.

USDG, USDC and USDT are fully backed by asset reserves, according to their issuers. OKX joined Paxos's Global Dollar Network in July 2025, which gives its users access to USDG for trading and transfers, and the network distributes earnings from USDG reserves to partners.

OKX launched an account-protection program called OKX Shield that reimburses up to $100,000 for users hit by third-party account takeovers. The OKX Money launch follows a March funding round with Intercontinental Exchange that valued the exchange at $25 billion.

What is still unclear

• OKX has not named the first markets where OKX Money will go live, saying only that the rollout will follow local requirements.
• The source of the yield is not disclosed. A spokesperson declined to comment on how the yield is funded, and CoinCentral reported the company declined to say exactly how it is funded.
• Rules on stablecoin rewards differ by region, so it is unclear where the yield model can operate.

Questions readers ask