TechFlow news, on September 30, during the "The New Money Era" event at the OKX Alphas Summit, OKX CEO Star, CMO Haider Rafique, and OKX SG CEO Gracie Lin participated in a roundtable discussion on "OKX Pay." During the session, Star explained why on-chain payments represent a key future trend, stating that OKX Pay will launch its services initially in Singapore. In the future, approximately 80% of merchants in Singapore will support PayNow QR code payments, with users receiving 3% to 4% cashback during transactions.
In addition, OKX will launch co-branded debit cards in partnership with collaborators, enabling users to make payments both in Singapore and globally. OKX plans to expand this service rapidly into markets such as Brazil, Europe, and the United States. Star emphasized that users will not only enjoy seamless global payments via OKX Pay and wallets while traveling but also benefit from APY rates higher than most banks and superior transaction rewards.
Star stated that OKX's vision for on-chain payments is to allow users to convert funds into stablecoins and store them in OKX Pay, where they will automatically earn yield with virtually no action required. Currently, OKX supports several stablecoins and plans to gradually add more options. To achieve this, OKX has launched a stablecoin strategy aiming to become the liquidity hub for all stablecoins. Users can trade and pay using USDG, USDC, and the upcoming PYUSD within the OKX app, integrating stablecoin payments and yield generation on-chain.
