OKX launches OKX Money stablecoin app with up to 10% APY on USDG balances
In brief
- OKX Money lets users hold USDG, USDC or USDT, send funds and spend with cards.
- Accounts can be funded in more than 50 currencies, converted into dollar-backed stablecoins.
- Qualifying customers can earn up to 10% APY on eligible USDG balances, with no lockup.
- OKX didn't name its launch markets and declined to say how the yield is funded.
How the app works
Deposits made in more than 50 supported currencies are converted into dollar-backed stablecoins. Users can then hold USDG, USDC or USDT, send funds to others, or spend through virtual or physical cards.
Most of the attention will go to the yield. OKX says qualifying customers can earn an annual percentage yield of up to 10% on eligible USDG balances, and it doesn't require staking or a lockup. That number is a ceiling, not the standard rate (an OKX spokesperson told Cointelegraph that rates and eligibility vary by region and customer).
Customers can qualify for a higher tier by meeting a 30-day average deposit threshold, exceeding a 30-day spending amount or achieving a higher Exchange VIP status.
What OKX didn't disclose
OKX didn't disclose its specific initial launch markets. The spokesperson said the rollout is happening market by market in line with local requirements, and that the legal entity and regulatory framework vary by jurisdiction.
The spokesperson also declined to comment on how the yield is funded.
OKX joined Paxos's Global Dollar Network in July 2025, which gave its users access to USDG for trading and transfers. Paxos's network distributes earnings from USDG reserves to partners, and those reserves include US Treasury bills, money market funds and cash.
The wider stablecoin picture
Cross-border demand for stablecoins keeps growing. Chainalysis reported that cross-border stablecoin flows rose 77.5% to $220.3 billion in the 12 months ending June 2026, and cited trade, remittances and savings as use cases.
Rules on stablecoin yield are tighter in larger markets. The US GENIUS Act includes a ban on payment stablecoin issuers paying interest or yield, and banking groups have pushed for restrictions on rewards paid by exchanges. In the EU, the Markets in Crypto Assets Regulation (MiCA) prohibits issuers and crypto service providers from granting interest on single-currency stablecoins.
Double-digit stablecoin yields aren't new to crypto. Anchor Protocol once offered returns of up to 20% on TerraUSD (UST), which lost its peg in May 2022 before UST and LUNA collapsed. USDG, USDC and USDT are a different kind of product, and their issuers say they're fully backed by asset reserves.
Frequently asked questions
Is 10% the standard yield on OKX Money?
No. OKX says qualifying customers can earn up to 10% APY on eligible USDG balances. A spokesperson told Cointelegraph that rates and eligibility vary by region and customer.
How does OKX fund the yield on USDG balances?
OKX hasn't said. A spokesperson declined to comment when Cointelegraph asked how the yield is funded.
Which countries can use OKX Money?
OKX launched the app in parts of Latin America, Africa, South Asia and the Middle East but didn't disclose its specific initial markets. A spokesperson said the rollout is happening market by market in line with local requirements.
