OKX Pay Launch Highlights Stablecoin Adoption in Asia

The launch of OKX Pay marks a significant milestone in the global adoption of stablecoins for everyday payments. Stablecoins like USDT, USDC, and XSGD are increasingly moving beyond crypto trading and investment to mainstream commercial networks across Asia. With integrations into platforms such as Alipay+, Grab, and popular wallets like GCash, KakaoPay, and Touch ’n Go, stablecoins are becoming a practical tool for cross-border remittances and retail transactions.

OKX Pay allows users to scan GrabPay SGQR codes at participating merchants. Behind the scenes, the system converts USDT or USDC into StraitsX’s XSGD, a Singapore dollar-pegged stablecoin. This is then exchanged into fiat currency, ensuring merchants receive payments seamlessly without having to handle digital payment tokens (DPTs) directly.

According to Gracie Lin, CEO of OKX Singapore, the service is designed to meet real-world customer needs by enabling stablecoins to be used for daily expenses, from small purchases like coffee to larger outings with friends. This represents a new phase in the evolution of digital assets, one where blockchain payments deliver speed, security, and efficiency in compliance with regulatory frameworks.

Every OKX Pay transaction leverages the Monetary Authority of Singapore’s Purpose Bound Money (PBM) framework, which ensures conditional and programmable settlement. This makes the process both secure and compliant, building trust in digital currency payments.

Industry data underscores this momentum. JPMorgan reports that stablecoin transaction volumes have surged to over $800 billion per month, compared to under $100 billion just five years ago. A BCG white paper (May 2025) notes that 4%–6% of stablecoin usage now supports payment-related activities, such as remittances and merchant transactions, while trading still accounts for 88%.

Tianwei Liu, CEO of StraitsX, emphasized that stablecoins are shaping the future of commerce: “The launch of OKX Pay is more than a payment service—it’s a blueprint for how stablecoins will underpin global financial interoperability.”

As stablecoin adoption accelerates, solutions like OKX Pay highlight the growing role of blockchain-powered payments in reshaping commerce across Asia and beyond.