OKX Launches OKX Money, Unlocking a New Era of Digital Dollar Savings and Everyday Spending

OKX, a leading global cryptocurrency exchange and onchain technology firm with more than 150 million customers worldwide, today unveiled the launch of OKX Funds, a standalone app that lets residents save, send and spend digital dollars.

Key points

• OKX Funds is initially available throughout markets in Latin America, Africa (such as South Africa, Kenya, Nigeria), South Asia (such as Pakistan, Bangladesh) and the Middle East.
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• Qualifying customers can automatically earn up to 10% APY on eligible USDG balances, spend from the same app, and receive up to 10% cashback on eligible purchases.
• Up to 10% APY: Eligible USDG balances can earn up to 10% APY automatically for qualifying customers, with no staking or lock-up required.
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OKX Funds went live globally on October 6 during OKX Now, the company's flagship product event.

OKX Funds makes it straightforward to obtain kicked off: when customers fund their account using one of more than 50 backed local currencies, the funds are converted into dollar-backed stablecoins. Qualifying customers can automatically earn up to 10% APY on eligible USDG balances, spend from the same app, and receive up to 10% cashback on eligible purchases.

OKX Funds is initially available throughout markets in Latin America, Africa (such as South Africa, Kenya, Nigeria), South Asia (such as Pakistan, Bangladesh) and the Middle East. In some regions, currency fluctuations, limited access to banking services and foreign exchange fees can create it challenging to protect savings and spend globally. OKX Funds gives residents a convenient way to employ digital dollars, participate in the global economy and produce their funds work harder. By using stablecoins for payments, customers can move funds at the speed of the internet while avoiding conversion costs that can add 2% to 5% to typical cross-border transactions.

Key features of OKX Funds include.

Dollar-denominated savings: Hold USDG, USDC or USDT, all pegged to the US dollar, and convert between backed stablecoins without conversion fees. Stablecoin-enabled payments: Send funds instantly, worldwide.

Zero FX fees: Spend in foreign currencies using a virtual or physical card without an continued conversion markup.

Up to 10% cashback: Eligible customers can receive cashback on qualifying purchases through a five-tier loyalty program.

As well as a smaller second-layer commission from eligible referrals created by their network in participating markets, referral rewards: Customers can receive commissions when individuals they invite activate and apply their cards.

OKX pairs this accessible design with a solid commitment to security and compliance. The firm operates under regulatory licensing frameworks in more than 30 jurisdictions, and OKX Money's security features are powered by the same technology that has produced OKX one of the leading exchanges in the industry.

OKX Funds is available to download today in participating markets. To learn more, visit okx.com. Stay Connected with ProPakistani.

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For now, OKX Launches OKX Money, Unlocking a New Era of Digital Dollar Savings remains the part of the story worth watching, and further updates are likely as more details are confirmed.