OKX, the digital asset platform licensed in more than 30 jurisdictions, has launched OKX Money, a standalone app that allows users to save, transfer and spend dollar-backed stablecoins.

The app brings together stablecoin savings, international transfers and everyday payments through a virtual or physical card. Users can top up their accounts in more than 50 currencies, with deposits converted into dollar-backed stablecoins.

Customers can hold USDG, USDC or USDT and switch between the three without conversion charges. Eligible users can also earn rewards of up to 10% APY on qualifying USDG balances, with no staking or lock-up period.

The payment card is designed to support spending in foreign currencies without foreign exchange fees or additional conversion markups. OKX said these costs can otherwise add between 2% and 5% to individual transactions.

OKX Money also includes a loyalty programme offering up to 10% cashback on eligible purchases. Its referral programme provides commissions when invited users activate and use their cards, with additional commissions available when those users make referrals of their own.

The product is aimed at consumers in markets where currency volatility, limited banking access and high foreign exchange costs can make it difficult to save or make international payments. OKX said accessing US dollar savings in these markets can often require a foreign bank account.

According to OKX, around 70% of its target users have never previously used a digital asset app. The company said it has therefore designed OKX Money to keep the underlying blockchain technology largely out of the user experience, allowing customers to focus on managing their funds.

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