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OKX Launches Compliant Pay and Card Products in Europe
Yahoo Finance· 2026-01-28 13:58
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]
Stablecoins seen as ‘the default’ for payments as OKX brings crypto card to Europe
Yahoo Finance· 2026-01-28 08:10
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].
X @OKX
OKX· 2025-11-06 15:19
Market Expansion - OKX launched its card in Brazil [1] - The launch aims to provide hundreds of millions of Brazilians with access to and control over their funds, both domestically and internationally [1] Financial Benefits - Brazilians can access, move, and use their funds without IOF (Financial Transaction Tax) [1] - Users can enjoy a strong USD yield [1] Company Vision - OKX's goal is to provide more financial freedom and control to individuals [1]
OKX Jumps Into Crypto Debit Cards as Exchanges Split Between Mastercard and Visa
Yahoo Finance· 2025-11-06 14:17
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]