Cryptocurrency exchange OKX has rolled out new USD-denominated stablecoin payment and savings services in Brazil via OKX Pay and the OKX Card. This initiative is designed to simplify cross-border transactions for Brazilians and provide a hedge against local currency inflation.
Key Features of the New Services:
- Instant Conversion: Users can now instantly convert Brazilian Reais (BRL) into USD stablecoins using the popular local payment system PIX, bypassing typical banking delays.
- OKX Pay Savings: The platform offers competitive savings, providing users with up to a 10% annual yield on their stablecoin balances, with earnings accrued daily and paid out weekly.
- OKX Card: This functions as a USD Mastercard debit card, compatible with Apple Pay and Google Wallet, enabling straightforward international payments.
- Cost Reduction: OKX significantly undercuts traditional remittance services, offering transfers for as little as $8 using spot markets, compared to the conventional cost of $42–$56, which often includes high fees like the 3.5% IOF tax and foreign exchange spreads.
The move leverages Brazil’s position as the leading country in Latin American crypto adoption (and fifth globally). Stablecoins are particularly popular in the country, accounting for over 90% of local cryptocurrency transactions.
OKX is utilizing Brazil’s CNH digital ID system to ensure fast onboarding and KYC verification for both domestic and international transfers, aiming to put stablecoins at the center of everyday finance for Brazilian households and businesses.
November 2025, Cryptoniteuae
