Catenaa, Saturday, November 15, 2025-Crypto exchange OKX has launched USD-denominated stablecoin payment and savings services in Brazil through OKX Pay and OKX Card, aiming to simplify cross-border transactions and protect against inflation.
The rollout allows users to convert Brazilian reais (BRL) into USD stablecoins instantly via PIX, bypassing traditional banking delays.
OKX Pay offers up to 10% annual yield on stablecoin balances, with daily accrual and weekly payouts, while OKX Card functions as a USD Mastercard debit card, compatible with Apple Pay and Google Wallet for international use.
The platform significantly reduces transaction costs, with transfers costing as little as $8 using spot markets, compared with $42–$56 through conventional remittance services.
OKX cited the 3.5% IOF tax and foreign exchange spreads as key factors making traditional payments costly.
Brazil leads Latin America in crypto adoption and ranks fifth globally, with stablecoins representing more than 90% of local cryptocurrency transactions. Between July 2024 and June 2025, Brazilian users handled an estimated $318.8 billion in digital assets, nearly one-third of regional volume.
OKX’s initiative reflects growing interest in dollar-based savings and payments, offering households and businesses alternatives amid currency volatility.
The service leverages Brazil’s CNH digital ID system for fast onboarding and KYC verification, supporting both domestic and international transfers.
“With OKX Pay and OKX Card, we’re putting stablecoins at the center of everyday finance for Brazilians,” said OKX Brazil CEO Guilherme Sacamone.
