OKX SG, the unit based in OKX Singapore, said it provided the integrated Exchange Crypto payment service, Oxk Pay, to the city-state via a stable payment service service connection with Southeast Asia, Grab.
OKX SG, which received a large license from payment institution from the central bank of the country just over a year ago, will work with the infrastructure provider of Crypto Straitsx to allow customers to pay daily expenses using the two largest stablescoins, issued by Internet circle (CRCL).
The launch of OKX Pay is a sign of the growing adoption of stablescoins in commercial networks across Asia and beyond. The Stablecoin XSGD of Straitsx is already integrated into Alipay + and Grab, which allows wallets like Gcash, Kakaopay and Touch ‘N Go E-Wallet. In some emerging markets, stablescoins are already widely used for funding and daily trade, often preferred for their lower transaction costs and faster payment times than conventional monetary transfers through traditional banking channels.
“OKX PAY meets the real needs of customers by expanding the use of DPTs beyond negotiation and investment for daily payments – from a morning coffee to catering with friends,” said Gracie Lin, CEO of OKX SG, in a press release shared with Coindesk.
The system allows users to scan the SGQR Grabpay codes among participating merchants and converts their USDT or USDC to XSGD, Stablecoin in Singapore at Singapore of stratsx. The XSGD is then converted into fiduciary currency and transmitted to the merchant.
Stablecoins are tokens whose values ​​are set for an external reference, generally a fiduciary currency. This jumping mechanism minimizes the volatility of prices generally observed in other cryptocurrencies, offering users a digital active ingredient which operates in a similar way to traditional money while offering the advantages of blockchain technology such as cross-border transactions and faster payment methods.
According to JPMorgan, Stablecoin’s transaction volumes increased to more than $ 800 billion per month, against less than $ 100 billion in five years. The overall use of stablescoins in real transactions reproduces slowly.
According to a white BCG white paper on the stablescoins published in May 2025, uses linked to the payments of stablescoins such as sending of cross -border funds, market transactions and chain regulations now represent approximately 4% to 6% of total activity. Meanwhile, trading -related activities represent 88% of the total.
The three-step conversion of the OKX Pay guarantees that traders benefit from a simple and in accordance to accept stable payments themselves without having to manage the digital payment tokens (DPT).
Each Okx Pay transaction is executed in the form of a blockchain transfer using the framework of the monetary authority of Singapore Bound Money (PBM), which applies a programmable logic to ensure compliant and conditional regulations.
“The future of payments will be defined by confidence, speed and interoperability – and stablecoins are at the heart of this quarter,” said Tianwei Liu, CEO and co -founder of Straitsx, in the press release. “The launch of OKX Pay is more than a new service, but a plan for the way stables are underpinned world trade in the years to come.”
