Star: OKX Pay is committed to becoming a liquidity hub for stablecoins, starting from Singapore and covering the global market

ChainCatcher news, on September 30, at the "The New Money Era" themed event of the OKX Alphas Summit, OKX CEO Star, CMO Haider Rafique, and OKX SG CEO Gracie Lin jointly attended the "OKX Pay" themed roundtable discussion. During the discussion, Star talked about why on-chain payments are an important trend for the future, stating that OKX Pay will launch related services first in the Singapore market, with approximately 80% of Singapore merchants supporting PayNow QR code payments. Users will also enjoy a rebate of 3% to 4% during the usage process. In addition, OKX will launch a debit card issued in collaboration with partners, allowing users to make payments in Singapore and globally. In the future, OKX plans to quickly expand this business to markets such as Brazil, Europe, and the United States. Star emphasized that users can not only make free payments during global travel through OKX Pay and their wallets but also enjoy higher APY than most banks and better trading rebates.

Star stated that the vision for OKX on-chain payments is for users to convert their funds into stablecoins and store them on OKX Pay, where the funds will automatically generate returns with almost no user intervention. Currently, OKX supports several stablecoins and plans to gradually expand to more options. To this end, OKX has launched a stablecoin strategy aimed at becoming the liquidity center for all stablecoins. Users can use USDG, USDC, and the upcoming PYUSD to trade and make payments on the OKX APP, achieving integration of on-chain stablecoin payments and earnings.