Core Insights - OKX has launched its first crypto debit card in Brazil, joining other exchanges like Binance and Coinbase in the competitive crypto card market [2][9] - The OKX Card is a Mastercard debit card that allows users to top up with Brazilian Reals, which are converted into USD stablecoins [2][3] - The market for crypto payment cards is evenly split between Mastercard and Visa, with both companies having dedicated programs for exchanges [4][9] OKX's Entry - The OKX Card can be used globally, with Mastercard facilitating local currency payments [3] - Users can earn up to 10% annual percentage yield on stablecoin balances [3] - The card integrates with Brazil's digital wallet service, Pix, providing a unique feature compared to competitors [3] Visa vs. Mastercard - Both Mastercard and Visa have established programs for exchanges to issue their own cards [4] - Mastercard requires a larger funding buffer, necessitating more upfront capital for high payment velocity programs [7] - Visa is viewed as more flexible and scalable, though its compliance frameworks are less stringent than those of Mastercard [8] Market Comparison - A comparison of crypto exchange cards shows various offerings, with OKX providing a Mastercard debit card in Brazil [12] - Other exchanges like Binance, Bitget, and Coinbase also offer different types of cards across various regions [12]

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