OKX SG, the Singapore OKX unit, said it is carrying the integrated Paypto Exchange service, Oxk Pay, to the city-stated through a scan service service to payments with the Southeast Asia with the application “Everyday Everything” of Southeast Asia, Grab.
OKX SG, which received an important payment institution license from the Central Bank of the country a little over a year ago, will work with the Straitsx cryptographic infrastructure provider to allow customers to pay everyday expenses using the two largest stabilizations in the United States, USDT, issued by Tether and USDC, issued by Internet Circle (CRCC).
The launch of OKX Pay is a sign of the growing adoption of stablcoins in commercial networks in Asia and beyond. Straitsx’s XSGD Stablecoin is already integrated with Alipay+ and Grab, which allows wallets such as GCASH, Kakapay and Touch ‘N Go Wallets. In some emerging markets, the stable are already widely used for remittances and daily trade, often preferred by their lowest transaction rates and liquidation times faster than conventional money transfers through traditional bank channels.
“Okx Pay addresses the real needs of customers by expanding the use of DPTS beyond trade and invest to daily payments, from a morning coffee to dinner with friends,” said Gracie Lin, CEO of OKX SG, in a press release shared with Coindeesk.
The system allows users to scan the recordpay SGQR codes in participating merchants and converts its USDT or USDC into XSGD, Straitsx’s Singapore Stablcoin of Singapore Dollar. The XSGD becomes the fiduciary currency and passes the merchant.
The stable are tokens whose values ​​are set to an external reference, typically a fiduciary currency. This puncture mechanism minimizes the volatility of prices typically seen in other cryptocurrencies, providing users with a digital asset that works similarly to traditional money while offering the benefits of blockchain technology, such as faster cross -border transactions and payment modes.
According to JPMorgan, Stablecoin transactions volumes have approached more than $ 800 billion per month from less than $ 100 billion in five years. The general use of stablcoins in the transaction of the real world is slowly recovering.
According to a BCG White Paper on Stablecoins published in May 2025, the uses related to Stablecoins payments, such as cross -border remittances, commercial transactions and chain agreements now represent approximately 4% to 6% of the total activity. Meanwhile, trade -related activities represent 88% of the total.
The three -step conversion of OKX Pay ensures that merchants benefit in a simple and compatible way to accept Stablecoin payments without having to handle digital payment tokens (DPT).
Each OKX payment transaction is executed as a block chain transfer using the monetary authority of the Singapore Purpose Money frame (PBM), which applies a programmable logic to guarantee a compatible and conditional liquidation.
“The future of payments will be defined by trust, speed and interoperability, and the stablecoins are in the heart of this change,” said Tianwei Liu, CEO and co -founder of Straitsx, in the statement. “The launch of OKX Pay is more than a new service, but a plan of how Stablcoins will support global trade in the coming years.”
