OKX launched OKX Money, a standalone app focused on saving, sending and spending dollar-backed stablecoins, on October 6. The app combines eligible yield features with virtual and physical cards in supported markets. The product targets users in regions where access to U.S. dollars is expensive or inconvenient, with foreign-exchange fees adding 2% to 5% to international purchases in some markets. This initiative positions OKX as a competitor not only to other exchanges but also to fintech apps and cross-border banking products. The app reflects a broader shift in the crypto sector, as exchanges increasingly view stablecoins as a route into everyday financial services rather than merely a settlement asset between trades.
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