Overview
- OKX Pay lets users convert Brazilian reais to USD-denominated stablecoins in seconds via the PIX network, with yield of up to 10% APY calculated daily and paid weekly without lock-up, according to the company.
- The OKX Card is a USD Mastercard debit card that draws from stablecoin balances and works globally with Apple Pay and Google Wallet support.
- Onboarding is localized with Brazil’s CNH digital ID for faster know-your-customer verification, per the product details.
- An internal OKX analysis claims its Pay and Card setup can save up to $39 on a $1,000 transfer versus services like Wise or Nomad, citing IOF taxes, foreign-exchange spreads and platform fees.
- Industry data reported by Yahoo Finance says stablecoins account for more than 90% of crypto transaction volume in Brazil, reflecting strong demand for dollar exposure.