OKX SG, the Singapore-based device of OKX, said it brings Crypto Exchange’s Integrated Payments Service, Oxk Pay, to the city state through a stableecoin-driven scan to paying service joint bonding with Southeast Asia’s “Everyday Everything” app, grab.
OKX SG, who received a larger payment institution license from the country’s central bank just over a year ago, will work with cryptoinfrastructure provider Straitx to allow customers to pay for everyday expenses using the two largest US dollar-pegged stableecoins, USDT, issued by Tether and USDC, issued by CIRCLE Internet (CRCL).
The launch of OKX Pay is a sign of the increasing adoption of stableecoins in commercial networks throughout Asia and beyond. Straitx’s XSGD StableCOin is already integrated with Alipay+ and Grab, which enables wallets such as Gcash, Kakaopay and Touch ‘n Go E-number. In some new markets, stablecoins are already widely used for transfers and daily trading, preferred often for their lower transaction fees and faster settlement times than conventional money transfers through traditional bank channels.
“Okx Pay meets real needs for customers by expanding DPTS ‘use beyond trading and investment for everyday payments – from a morning coffee to eating out with friends,” said Gracie Lin, CEO of OKX SG, in a press release shared with Coindesk.
The system allows users to scan Grabpay SGQR codes on participating merchants and convert their USDT or USDC to XSGD, Straitx’s Singapore Dollar-Pegged StableCoin. The XSGD is then converted into the Fiat currency and sent to grocery store.
Stableecoins are symbols whose values are tied to an external reference, typically a Fiat currency. This pegging mechanism minimizes the award volatility, typically seen in other cryptocurrencies, giving users a digital asset that works similar to traditional money while offering the benefits of blockchain technology, such as faster cross-border transactions and payment states.
According to JPMorgan, stablecoin transaction volumes have zoomed in for over $ 800 billion a month from less than $ 100 billion in five years. The overall use of stableecoins in the transaction in the real world is slowly picking up.
According to a BCG White Book on StableCecoins released in May 2025, StableCoins’ payments-related uses such as cross-border transfers, trade transactions and on-chain settlements now approx. 4% –6% of the total activity. Meanwhile, trade -related activities make up 88% of the total amount.
OKX Pay’s three-stage conversion ensures that merchants benefit from a simple, compatible way of accepting stablecoin payments without having to deal with digital payment tokens (DPTS) themselves.
Each OKX salary transaction is performed as a blockchain transfer using the monetary authority in Singapore’s purpose Bound Money (PBM) frames using programmable logic to ensure compatible and conditional settlement.
“The future of payments will be defined by trust, speed and interoperability and stableecoins are at the heart of this shift,” said Tianwei Liu, Straitx CEO & co-founder, in the statement. “The launch of OKX Pay is more than a new service, but a plan for how stableecoins will support global trade in the coming years.”
