OKX Australia Introduces Instant Peer-to-Peer Payments with OKX Pay

Cryptocurrency exchange OKX Australia has introduced a new peer-to-peer payment facility called OKX Pay, which allows users to make transactions using stablecoins hosted on its platform.

The payments wallet is built into the OKX app and supports US dollar-pegged stablecoins Global Dollar (USDG), Tether (USDT) and USD Coin (USDC), as well as Australian dollar-pegged stablecoins Macropod (AUDM) and Forte (AUDF).

Transactions using Global Dollar will attract rewards of 4% for regular customers, increasing to 10% for higher-tier VIP members, capped at $10,000.

OKX Australia chief executive Kate Cooper said, 'Money should move as quickly as the internet. Stablecoins have the potential to modernise how Australians spend and transfer value.'