Crypto Journalist
Amin Ayan
Crypto Journalist
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Crypto exchange OKX has launched OKX Pay and the OKX Card in Europe, introducing what it describes as a compliant way for users to spend stablecoins on everyday purchases across the European Union.
Key Takeaways:
- OKX has launched OKX Pay and a Mastercard-backed card in Europe to enable everyday stablecoin spending.
- The product converts stablecoins to euros in real time, allowing payments wherever Mastercard is accepted.
- OKX is targeting daily payment use cases as clearer EU regulation and improved infrastructure support broader adoption.
The rollout allows European users to deposit euros, convert them into fiat-backed stablecoins and use those funds for daily payments, the exchange said in an announcement.
Through the OKX Card, which runs on Mastercard’s network, stablecoins are converted to euros in real time at the point of sale, enabling spending anywhere Mastercard is accepted.
OKX Targets Everyday Payments as Crypto Shifts Beyond Trading
OKX said the launch marks a shift in focus for the crypto industry, which has spent much of the past decade building trading platforms and infrastructure.
The company is now targeting everyday use cases, with payments seen as one of the most immediate opportunities.
Crypto payment apps have existed for years, but daily adoption has remained limited.
According to OKX, the issue has not been a lack of interest but the reality that existing payment systems already work well enough for most users, even with transaction limits, cross-border fees and settlement delays.
For crypto payments to gain traction, they need to offer clear advantages, OKX said. Until recently, volatility, complex self-custody requirements, inconsistent user experience and regulatory uncertainty made that difficult.
Those barriers are now easing, particularly in Europe. Stablecoins have become more widely used, wallet tools have improved and regulatory frameworks such as the EU’s Markets in Crypto-Assets (MiCA) rules have provided clearer ground for compliant products.
OKX Pay is positioned as the core wallet layer. Users can hold stablecoins and use them for routine expenses such as food, transport or splitting bills.
Where permitted under local regulations, OKX Pay also allows interaction with decentralized finance protocols and real-world asset applications within a regulated setup.
The OKX Card extends those balances into the traditional payments system. The virtual debit card is euro-denominated and linked directly to OKX Pay, handling currency conversion automatically at checkout.
OKX Integrates PayPal for Zero-Fee Crypto Purchases in Europe
In July, OKX partnered with PayPal to allow users in the European Economic Area to buy and deposit cryptocurrencies directly through the payments platform.
The move aims to simplify the buying process by offering familiar, localized payment methods such as PayPal balance, linked bank accounts, and cards, with no extra setup needed once accounts are connected.
The initiative followed the exchange’s recent Markets in Crypto-Assets (MiCA) registration, ensuring full compliance with EU digital asset regulations.
Circle Internet Group and OKX have also announced a partnership aimed at expanding access to and liquidity for the USDC stablecoin.
The collaboration will introduce 1:1 conversions between USD and USDC on the OKX platform, improving trading efficiency and accessibility for the platform’s more than 60 million global users.