Popular cryptocurrency exchange, OKX has introduced OKX Pay and the OKX Card in Europe. The exchange announced this development in a blog post on Wednesday, claiming it as the first compliant DeFi Pay and Card solution in the European Union.
With OKX Pay, users can now engage with DeFi protocols and real-world asset (RWA) applications. However, usage remains subject to regulatory approval and local laws, along with standard payment activities.
According to the blog, this launch mirrors the current state of the crypto industry. OKX observed that after years of developing trading infrastructure, the next focus is on everyday utility, making payments a logical starting point.
Though payment apps have existed for a long time, their everyday use has been relatively limited. OKX suggests this isn’t because the concept failed, but because existing digital payment solutions generally work sufficiently. They pointed out that people are often willing to accept transaction caps and cross-border friction—even within Europe, where settlement fees can be from 1-5%.
Until recently, issues like volatility, complex self-custody, poor user experience, and unclear regulations hindered crypto payments. Now, these obstacles are diminishing thanks to a different government administration. Stablecoins have matured, wallet infrastructure has improved, user expectations are higher, and Europe now offers clearer regulations to support responsible, large-scale development.
Furthermore, the exchange emphasized that stablecoins underpin this recent shift. They settle faster and cheaper than traditional methods, eliminate cross-border limitations, and operate 24/7 with instant finality for users and merchants. With strong compliance and consumer protections, they represent a significant evolution of digital money.
More details on OKX Card and OKX Pay
With OKX Pay, users can deposit euros, convert them into fiat-backed stablecoins, and use them for daily transactions. They can also access DeFi and RWA applications within a compliant environment.
Similarly, the OKX Card enables stablecoins to be spent anywhere Mastercard is accepted, with real-time conversion to euros at the checkout. The card is a euro-denominated virtual debit card linked directly to OKX Pay. It aims to be simple, transparent, and practical for real-world use.
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