Cryptocurrency exchange OKX has announced the launch of its payment card in Europe, enabling users to spend stablecoins at various merchants that accept Mastercard. The OKX Card, which is issued through the company’s Electronic Money Institution (EMI) partner, Monavate, aims to enhance the use of stablecoins in everyday transactions. Upon the card’s release, it will support spending in stablecoins such as Circle’s USDC and the Paxos-issued Global Dollar (USDG).
This development comes amid a growing trend among cryptocurrency companies to facilitate the use of stablecoins for everyday payments, particularly as regulatory frameworks in Europe continue to evolve. “With OKX Card, we’re making it simple for anyone in Europe to use crypto for real-world purchases,” stated OKX Europe CEO Erald Ghoos.
In terms of regulation, OKX operates as a regulated crypto-asset service provider (CASP) throughout the European Union, compliant with the Markets in Crypto-Assets Regulation (MiCA) framework. The OKX Card itself is regulated via Monavate, which issues the card and maintains its operations on Mastercard’s global network. Monavate, headquartered in the United Kingdom, complies with stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) standards applicable within the European Economic Area.
All users must undergo mandatory KYC checks to access the OKX Card. The card service is exclusively available to verified OKX users, who must pass comprehensive KYC and AML processes that adhere to both MiCA regulations and relevant EU AML directives. “Fundamentally, most people have three financial needs: to pay and be paid, to accrue wealth and to access credit. OKX Card provides a practical tool to meet the first of those,” Ghoos emphasized. He further noted that while the idea of making payments freely is central to the vision of crypto, it can often be technically challenging for everyday users. “With OKX Card, our users can realize this vision and transact freely and securely in real life while retaining total control of their assets.”
The launch of the OKX Card represents a significant milestone in the increasing acceptance and adoption of crypto-linked payments in Europe. In parallel, reports indicate that Visa-issued crypto cards experienced a remarkable 525% increase in total net spending in 2025, highlighting a broader trend towards integrating digital currencies into mainstream financial activities.
