Crypto exchange OKX has launched OKX Pay and OKX Card in Brazil, giving users access to USD-denominated stablecoin savings and payments infrastructure.

The launch marks a step toward bringing digital dollar finance to everyday Brazilians amid growing demand for inflation-resistant savings and cross-border payment solutions.

Stablecoins now account for more than 90% of cryptocurrency transaction volume in Brazil, according to industry data, as the country faces ongoing inflation and currency volatility. Brazil leads Latin America in crypto transactions and ranks fifth globally for adoption.

The ability to save and transact in USD has become an attractive alternative for households and small businesses seeking financial stability.

With the introduction of OKX Pay and OKX Card, users can now convert Brazilian reais (BRL) into USD stablecoins instantly via PIX integration, bypassing intermediaries and traditional banking delays.

The initiative reflects a growing trend toward dollarization in emerging markets, driven by digital assets that combine yield, liquidity, and global access.

According to OKX’s internal cost analysis, the combined platform eliminates up to $39 in fees and taxes on a $1,000 transaction compared to conventional remittance or payment services.

A transfer through OKX Pay and Card (PIX integration) costs roughly $17.30, while spot market use can reduce that to $8.00, significantly undercutting alternatives such as Wise ($42.90) or Nomad ($56.00).

The analysis factors in the 3.5% IOF tax—Brazil’s tax on financial operations reinstated in May 2025—along with foreign exchange spreads and platform fees. By using stablecoins as a settlement layer, OKX effectively removes the friction and cost of international currency conversion for local users.

Built on OKX’s ZK-based X Layer blockchain, OKX Pay enables users to earn up to 10% annual percentage yield (APY) on their stablecoin balances, calculated daily and distributed weekly with no lock-ups.

The service supports domestic and international transfers, underpinned by localized onboarding that uses Brazil’s CNH digital ID system for fast KYC verification.

Meanwhile, OKX Card operates as an international USD Mastercard debit card, drawing directly from users’ stablecoin balances. The card works globally via Mastercard’s network and integrates with Apple Pay and Google Wallet, allowing frictionless payments anywhere in the world.

“With OKX Pay and OKX Card, we’re putting stablecoins at the center of everyday finance for Brazilians,” said Guilherme Sacamone, CEO of OKX Brazil. “Our goal is to make crypto practical, empowering, and accessible—giving people seamless, cost-efficient access to the global economy without hidden fees or conversion costs.”