Overview
- Users can convert reais to USD stablecoins via PIX in seconds, with balances offering up to 10% APY calculated daily and paid weekly without lock‑ups.
- The OKX Card draws directly from stablecoin balances, runs on Mastercard’s global network, and works with Apple Pay and Google Wallet for in‑store and online spending.
- OKX’s internal analysis claims up to $39 less on a $1,000 transaction versus providers such as Wise or Nomad, incorporating platform fees, FX spreads, and Brazil’s reinstated 3.5% IOF tax.
- Onboarding leverages Brazil’s CNH digital ID for fast KYC, while transfers and yield features run on OKX’s zero‑knowledge X Layer blockchain.
- Coverage cites industry data showing stablecoins comprise over 90% of Brazil’s crypto transaction volume, reflecting demand for dollar‑denominated payments and savings.