OKX Australia has launched OKX Pay, a payments wallet integrated into the existing OKX application that enables users to send and receive funds instantly while earning rewards on eligible USDG holdings. The service allows peer-to-peer transfers without requiring traditional banking details such as account numbers or BSB codes.
Embedded directly within the OKX app, the new feature provides access to payments, digital asset holdings, and trading services through a single platform. Users can transact using USDG, USDT, USDC, and Australian dollar-denominated stablecoins AUDM and AUDF. Reward rates on USDG begin at 4% for standard users, subject to a balance cap of $10,000, and increase to as much as 10% for customers holding VIP 3 status or higher. Existing digital asset holdings on OKX may already qualify some users for VIP benefits, depending on eligibility requirements.
The launch eliminates the need for a separate payments application or onboarding process, allowing customers to move between payments and trading functions within the same ecosystem. Users who qualify for VIP status may also gain access to enhanced rewards and cashback structures linked to the platform.
“Money should move as quickly as the internet. Stablecoins have the potential to modernise how Australians spend and transfer value, but until now the experience has been fragmented,” said OKX Australia CEO Kate Cooper in a written statement. “With OKX Pay, customers can hold Australian dollar and US dollar stablecoins, earn rewards on eligible balances, and send money instantly, all from a single app. We’re making the benefits of stablecoins practical, accessible and rewarding for everyday Australians,” she added.
The company has also opened a waitlist for the upcoming OKX Card, which is expected to launch in Australia in the coming weeks. The virtual Mastercard, compatible with Apple Pay and Google Pay, is designed to extend OKX Pay functionality to everyday purchases. Cashback rewards will start at 2% for standard users and rise to 5% for VIP 3 members and above on eligible transactions, with monthly limits varying according to membership tier.
According to the company, the card is intended to allow existing OKX customers to use digital asset balances for daily spending while remaining within the same platform and retaining access to associated rewards programs.
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