OKX Launches Stablecoin Savings App With 10% Yield in Emerging Markets

Crypto exchange OKX has rolled out OKX Money, a stablecoin-based savings and payments app targeting emerging markets across Latin America, Africa, South Asia, and the Middle East. The app enables users to fund accounts in over 50 supported fiat currencies, automatically converting deposits into dollar-backed stablecoins including USDG, USDC, or USDT. Users can hold these assets, send funds peer-to-peer, and spend via virtual or physical cards, according to a company announcement shared with Cointelegraph.

Qualifying customers can earn up to 10% annual percentage yield (APY) on eligible USDG balances without staking or lockup requirements. OKX explained that customers qualify for higher yield tiers by meeting a 30-day average deposit threshold, exceeding a 30-day spending amount, or achieving a higher Exchange VIP status. However, a spokesperson declined to disclose how the yield is funded, noting that rates and eligibility vary by region and customer. The exchange also did not specify which initial markets are live, stating that the rollout is proceeding jurisdiction by jurisdiction under varying regulatory frameworks.

OKX joined Paxos's Global Dollar Network in July 2025, gaining access to USDG for trading and transfers. USDG, like USDC and USDT, is fully backed by asset reserves including US Treasury bills, money market funds, and cash, with Paxos distributing earnings from reserve income to network partners. The launch comes as cross-border stablecoin flows surged 77.5% to $220.3 billion in the 12 months ending June 2026, according to Chainalysis, driven by trade, remittances, and savings use cases.

The yield-bearing product arrives at a time of increased regulatory scrutiny on stablecoin rewards. The US GENIUS Act includes a ban on payment stablecoin issuers paying interest or yield directly, while banking groups have pushed for restrictions on exchange-funded rewards. The rollout draws historical parallels to Anchor Protocol, which offered up to 20% returns on TerraUSD before its 2022 collapse, underscoring ongoing questions about the sustainability and transparency of stablecoin yield mechanisms.