OKX Singapore Launches Stablecoin-Powered Debit Card

OKX Singapore has introduced a new financial instrument that combines the stability of traditional currencies with the flexibility of cryptocurrencies.

The OKX Card, a stablecoin-powered Visa debit card, enables customers to spend USDC, USDT, or USDG directly from their OKX Pay wallet at any Visa merchant worldwide. The conversion to local fiat happens at the point of sale, handled by Visa and StraitsX, a regulated Singapore payment service provider.

The product is natively linked to OKX Pay, the exchange's self-custodial digital payments feature. Users hold stablecoins in their own wallet, spend through the card, and merchants receive local currency. The card also comes with Visa Platinum benefits and supports Apple Pay and Google Pay for tap-in-store or online payments.

According to Gracie Lin, CEO of OKX SG, 'people want new technology to feel familiar.' By teaming up with Visa, the OKX Card allows customers to use stablecoins for everyday spending with a familiar card experience, while maintaining full control over their assets. The 0.1% asset conversion spread is the revenue mechanism.