OKX Launches Stablecoin Savings App with Up to 10% Yield
- OKX Money is now available in parts of Latin America, Africa, South Asia, and the Middle East.
- Users can earn an annual percentage yield (APY) of up to 10% on eligible USDG balances.
- The app supports over 50 currencies, converting deposits into dollar-backed stablecoins like USDG, USDC, or USDT.
- Cross-border stablecoin flows surged 77.5% to $220.3 billion in the year ending June.
- Eligibility for higher yield tiers depends on deposit thresholds and spending amounts over a 30-day period.
The launch of OKX Money reflects a growing trend in utilizing stablecoins beyond trading, as evidenced by significant increases in cross-border transactions and savings applications. The program’s yields are linked to specific user activities and regional regulations.
With potential yields reaching up to 10%, OKX’s initiative aims to attract users in emerging markets while navigating diverse regulatory landscapes.(Source)
