OKX Launches Compliant Pay and Card Products in Europe

Core Insights - OKX has launched OKX Pay and the OKX Card in Europe, marking the introduction of the first compliant DeFi-based payments and card system within the EU [1] - The launch aligns with the new regulatory framework under the Markets in Crypto Assets (MiCA) regime, which standardizes rules for stablecoin issuers and crypto service providers across the EU [2] OKX Pay Functionality - OKX Pay enables users to hold euro-backed stablecoins for everyday expenses such as food, transport, bills, and peer-to-peer transfers, with potential access to DeFi protocols where local regulations permit [3] - The system is designed around stablecoins, ensuring near-instant settlement and continuous operation while eliminating cross-border limits found in traditional banking [4] OKX Card Features - The OKX Card is a virtual euro-denominated debit card linked to OKX Pay, allowing users to spend stablecoins at any location accepting Mastercard, with conversion occurring at the point of purchase [5] - There are no transaction or foreign exchange fees, with a 0.4% market spread applicable at conversion. The card supports tap-to-pay through Apple Pay and Google Pay, usable at over 150 million Mastercard locations globally [6] Rewards and Compliance - OKX is offering limited-time crypto rewards for card usage, with VIP users earning up to 20% back in crypto and regular users up to 15% over a 30-day period [7] - The card is issued through a licensed European payments partner and adheres to strict AML and KYC requirements, with plans for expansion and additional features in the future [8]