OKX SG, a Singapore-based unit of OKX, said it will bring Oxk Pay, an integrated payment service from Crypto Exchange, to city-states through its “Everyday Everything” app, Grab, through a partnership of interscan services powered by Stablecoin.
Having received a major payment institution license from the country’s central bank over a year ago, OKX SG can work with Crypto Infrastructure Provider Straitsx to pay daily expenses using two largest US dollar pages, Stablecoins, USDT, and USDC issued by Tether, two largest US dollar pages, Stablecoins, USDT.
The launch of OKX Pay is a sign of an increase in the adoption of stubcoin in commercial networks in Asia and beyond. Straitsx’s XSGD Stablecoin is already integrated with Alipay+ and Grab, which allow wallets such as Gcash, Kakaopay, and Touch’n go e-Wallets. In some emerging markets, stubcoins are already widely used in remittances and daily commerce. This often prefers lower transaction fees and faster settlement times than traditional remittances through traditional banking channels.
“OKX expands the real needs of customers by expanding their daily payments beyond the use of DPTS,” said Gracie Lin, CEO of OKX SG in a press release shared with Coindesk.
This system allows users to scan the Grab Pie SGQR code with participating merchants and convert USDT or USDC to XSGD, a Stablecoin paged in Singapore Dollars on Straitsx. XSGD is converted in Fiat currency and handed over to merchants.
Stablecoins are tokens whose value is fixed to an external reference, usually a Fiat currency. This pegging mechanism minimizes the price volatility normally found in other cryptocurrencies, provides users with digital assets that work just like traditional money, and offers the advantages of blockchain technology such as faster cross-border transactions and payment modes.
According to JPMorgan, the volume of Stablecoin transactions has grown from under $100 billion over five years to more than $800 billion a month. The overall use of stubcoins in real-world transactions is slowly picked up.
According to the BCG whitepaper on Stablecoins released in May 2025, payment-related use of Stablecoins accounts for around 4% to 6% of total activities, including cross-border remittances, merchant transactions, and settlements in chains. Meanwhile, trading-related activities account for 88% of the total.
With the three-stage conversion of OKX Pay, merchants can benefit from an easy and compliant way of accepting Stablecoin payments without having to process the Digital Payment Token (DPTS) itself.
All OKX Pay transactions are performed as blockchain transfers using financial authorities in Singapore’s Purpose Bound Money (PBM) framework.
“The future of payments is defined by trust, speed and interoperability, and stubcoin is at the heart of this shift,” Staratasx CEO and co-founder Tianwei Liu said in a statement. “The launch of OKX Pay is more than a new service, but it’s a blueprint for how Stablecoins will support global commerce in the coming years.”