Stablecoins seen as ‘the default’ for payments as OKX brings crypto card to Europe

Core Viewpoint - Stablecoins are transitioning from experimental phases in cryptocurrency to becoming integral components of trusted financial infrastructure, as highlighted by OKX's launch of a new debit card in Europe [1]. Group 1: Regulatory Environment - European regulators are enhancing the momentum for stablecoins through the implementation of the EU's Markets in Crypto Assets (MiCA) framework, which standardizes regulations for stablecoin issuers and crypto service providers across the bloc [1]. Group 2: Product Launch - OKX has introduced a new crypto payments card in Europe, enabling users to spend stablecoins directly at merchants that accept Mastercard [2]. - The OKX Card connects self-custody wallets to real-world payments, offering fee-free spending with a 0.4% market spread applied at the point of conversion [2]. Group 3: User Experience - Unlike traditional crypto cards that require manual conversions or preloading, the OKX Card allows users to pay with stablecoins directly from their wallets, converting assets only at the time of purchase [3]. - Users can earn crypto rewards of up to 20% during a limited promotional period [3]. Group 4: Functionality and Integration - The card supports tap-to-pay functionality through mobile wallets like Apple Pay and Google Pay, and is usable at over 150 million locations globally [4]. - Designed to integrate with OKX's onchain infrastructure, the card emphasizes user control and avoids centralized custody [4]. Group 5: Compliance and Future Outlook - OKX issues the card through a licensed European payments provider, adhering to anti-money laundering (AML) and know-your-customer (KYC) regulations [5]. - The expansion of stablecoins into the financial mainstream is supported by Mastercard, with expectations that stablecoins will soon see widespread adoption for instant, low-cost global payments [5].