OKX rolls out a new MasterCard in the EEA/EEA that allows users to pay directly with stablecoins at millions of user locations, with no transaction and currency fees, and with temporary crypto rewards of up to 20 percent on eligible purchases
Stablecoins are cryptocurrencies that mirror the value of traditional currencies such as euros or dollars, and are increasingly used for payments and transfers to reduce the exchange rate risk that comes with more volatile crypto assets. In the EEA/EEA, regulation and oversight of both stablecoin issuers and infrastructure providers are tightened, making it important for players like OKX to combine blockchain self-custody with anti-money laundering and customer control requirements.
OKX in Europe is led by Erald Ghoos (pictured).
Launching in the European Economic Area via a licensed European payment partner, OKX Card is described as a product intended to lower the threshold for daily use of crypto in commerce and services. Het kaart is connecteren naar Mastercard's global-netwerk, die je kunt u gebruiken bij Mastercard is accepted, both online and in physical terminals. Users can add the card into Apple Pay or Google Pay and pay with a single loss directly from their stablecoin funds.
Instead of requiring preloading or manual conversion, stablecoins remain in the user's own wallet until the very moment of purchase. La conversión en euros tako automáticamente na pagamento, con un marque statífico de 0.4 percento e senza OKX procurso o feos de cambio de divisas. Het bedrijfscot dat het kaart is built around onchain self-custody rather than centralized exchange custody, to give users greater control over their funds while allowing them to use them in traditional channels.
To stimulate early use, OKX is introducing a promotion-based rewards program tied to the card. Nel 30 giorni VIP, utenti possono obtenuto a 20 percentuale in cripto su selezionati proizioni, dopo una periodo di up to 15 per cent in regolare regolari per i prossimi 30 giorni. The rewards are paid out instantly in crypto when the purchase is completed, rather than as traditional cashback or point accrual. The most generous rates are time-limited promotions. Such use of rewards shows how crypto platforms are attempting to take position in a market where payment cards and apps tied to digital assets have become essential tools for attracting and retaining customers.
The OKX Card is issued through a European licensed payment provider and shall operate within established AML and KYC frameworks in the EEA/EEA. Het bedrijfde beschrijving kaart als een broadest, long term venture into regulert crypto-servicen in Europa, meer ook onderwerking op uw eigen payment licenties in het region. Mastercard provides the underlying infrastructure for the card.
OKX is using the launch to tie in with the original idea of crypto as a digital means of payment, not just a speculative investment class. According to OKX Europe CEO Erald Ghoos, the card will enable European users to use crypto for regular purchases in a way that feels fast, secure and transparent, with stablecoins as the hub of this transition.
According to a press release from OKX, the launch is also marked as a first step in a larger strategy, with OKX pointing to possible premium cards, expanded reward tiers, partnerships with trading players and future Web3 integrations. Ambition is to build a bridge between onchain ecosystems and the established trading infrastructure in Europe, enabling users to move more seamlessly between the crypto economy and traditional payment platforms.
