OKX Launches OKX Pay With 5% Rewards, Mastercard Integration, and Self-Custody for U.S. Crypto Payments

OKX, a cryptocurrency exchange, has launched OKX Pay, a new payment solution for American users that aims to facilitate Web3 adoption by enabling practical self-custody, seamless global payments, and automatic daily rewards with zero fees. The platform allows users to make direct payments and transfers to contacts, send and receive red envelopes, and participate in group chats. Future integrations are planned with major payment service providers such as Mastercard and Stripe, potentially enabling direct purchases using the platform's native currency, U. OKX Pay features a unique key management system where the private key is split between the user and OKX, with recovery options via zero-knowledge email. The service also offers an annualized reward rate of 5% on balances. The launch of OKX Pay is seen as a critical step toward mass adoption of Web3 payments, providing an alternative to traditional payment methods. However, the service is not available to users in mainland China.

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