OKX has taken a significant step in Brazil’s financial landscape by launching OKX Pay and OKX Card, aimed at expanding the adoption of USD-denominated stablecoin payments and savings. This initiative is particularly timely, as it offers Brazilians tools to combat inflation and streamline cross-border transactions.
Through an integration with PIX, a widely-used instant payment system in Brazil, users can convert Brazilian reais directly into USD stablecoins. This functionality is designed to provide a quicker and more efficient alternative to conventional remittance services.
The services are aimed at both individuals and small businesses that are increasingly seeking stability in their financial transactions. With over 90% of Brazil’s crypto transaction volume now attributed to stablecoins, there is a clear shift among users towards more stable and accessible digital financial solutions. OKX’s CEO for Brazil, Guilherme Sacamone, emphasized the company’s commitment to making cryptocurrencies more practical for daily use, stating, “We’re putting stablecoins at the center of everyday finance for Brazilians.”
Brazil ranks fifth globally in terms of crypto adoption, leading the Latin American region in transaction volume. This growing activity underscores the country’s emerging role as a key player in the global crypto landscape.
One of the standout features of OKX Pay and OKX Card is the substantial reduction in transaction fees. The platform reportedly saves users up to $39 on a $1,000 trip compared to traditional financial services, especially after considering Brazil’s 3.5% IOF tax reinstated in May 2025. Transfers using OKX tools typically cost around $17.30, while leveraging spot market options can reduce fees even further to about $8.00. This starkly contrasts with competitors like Wise and Nomad, which can charge up to $56 for similar transactions.
By utilizing stablecoins for settlements, OKX effectively eliminates the hurdles and costs associated with foreign exchange conversions. The underlying technology incorporates the ZK-based X Layer blockchain, enabling users to earn an annual yield of up to 10% on stablecoin balances. This yield is calculated daily and distributed weekly without any lock-up periods.
Additionally, the system facilitates both domestic and international transfers, utilizing blockchain for real-time settlements. OKX also simplifies the Know Your Customer (KYC) verification process by integrating Brazil’s CNH digital ID.
The OKX Card, which functions as a USD Mastercard debit card, connects directly to users’ stablecoin wallets, is usable worldwide, and supports contactless payments via integrations with Apple Pay and Google Wallet.
According to data from Chainalysis, Brazilian users received approximately $318.8 billion in digital assets between July 2024 and June 2025, making up nearly a third of all crypto transactions in Latin America. During the same period, the regional total volume approached nearly $1.5 trillion, with monthly trading increasing from $20.8 billion in mid-2022 to $87.7 billion by December 2024.
With the rollout of OKX Pay and OKX Card, the company is solidifying its presence in Latin America’s rapidly evolving crypto market, responding to the growing demand for efficient and cost-effective digital finance solutions across Brazil.
