OKX, one of the world’s leading cryptocurrency exchanges, has officially launched a new stablecoin-backed payment card for its users across the European Economic Area (EEA). The initiative is executed in collaboration with Monavate, a regulated financial technology issuer specializing in card and payment solutions, ensuring full compliance with EU financial regulations.
The new card is designed to bridge the gap between digital assets and traditional finance by allowing OKX users to spend their stablecoin holdings (such as USDC, EURT, and potentially others) instantly at any merchant that accepts standard card payments, both online and in physical stores. The system works by performing a real-time conversion of the user’s stablecoin balance into the local fiat currency (Euros) at the point of sale.
This move significantly enhances the utility and liquidity of stablecoins for European consumers, positioning digital assets as a practical medium for everyday transactions rather than just a trading instrument. Monavate’s role as the regulated issuer is crucial, as it provides the necessary infrastructure and compliance framework required to operate a crypto-linked payment product within the stringent regulatory environment of the EEA.
OKX stated that the launch is part of its broader strategy to foster greater mainstream adoption of cryptocurrencies by providing frictionless on-ramps and off-ramps, making digital wealth easily accessible and spendable in the traditional economy. The card is expected to roll out gradually to eligible OKX account holders throughout the region.
Source: OKX launches EU stablecoin payment card via regulated issuer Monavate
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