OKX, a global cryptocurrency exchange, has expanded its services in Brazil with the launch of OKX Pay and the OKX Card, two products designed to integrate USD-denominated stablecoin savings and payment tools into the daily financial lives of Brazilian users. The move underscores a growing demand for digital dollar finance as inflation and currency volatility continue to challenge traditional financial systems in the country.
According to industry data, stablecoins now account for over 90% of all crypto transactions in Brazil, reflecting widespread adoption among individuals and businesses seeking protection from the devaluation of the Brazilian real. Brazil currently leads Latin America in cryptocurrency activity and ranks fifth globally for overall adoption. The ability to hold and transact in USD-backed assets has increasingly appealed to consumers and small enterprises searching for financial stability and efficiency in an uncertain economy.
Empowering Users Through Dollarized Digital Tools
With OKX Pay and OKX Card, Brazilian users can instantly convert local currency (BRL) into USD stablecoins through PIX integration, a widely used national payment system. This feature enables real-time transfers without relying on traditional banks or intermediaries, reducing both delays and costs associated with international transactions.
The company’s initiative reflects a broader trend toward digital dollarization across emerging markets, where stablecoins are being adopted as tools that combine yield potential, global accessibility, and liquidity. OKX reported that its new infrastructure dramatically reduces the cost of cross-border payments and remittances compared to conventional services.
According to the company’s internal cost assessment, transferring $1,000 through OKX Pay and OKX Card can save users up to $39 compared to competitors. A transaction executed through the integrated PIX system costs around $17.30, while using the spot market can bring it down to approximately $8.00 — substantially cheaper than popular alternatives such as Wise ($42.90) or Nomad ($56.00). These calculations factor in Brazil’s 3.5% IOF financial operations tax, reinstated in May 2025, as well as currency conversion spreads and service fees. By employing stablecoins as a settlement layer, OKX minimizes the friction and expense of cross-border money transfers.
Blockchain Infrastructure and Earning Potential
Both products operate on OKX’s X Layer blockchain, which utilizes zero-knowledge (ZK) technology for enhanced privacy and scalability. OKX Pay also provides users with the opportunity to earn up to 10% annual percentage yield (APY) on stablecoin balances. The yield is calculated daily and distributed weekly, with no lock-up periods, allowing flexible participation.
The platform supports both domestic and international transactions and includes localized onboarding features such as integration with Brazil’s CNH digital ID system for rapid Know Your Customer (KYC) verification.
Meanwhile, the OKX Card functions as a global USD-denominated Mastercard debit card, directly connected to users’ stablecoin balances. It allows users to spend their funds worldwide through Mastercard’s network and supports mobile payment options like Apple Pay and Google Wallet, offering a seamless digital payment experience across borders.
Advancing Brazil’s Role in the Crypto Economy
OKX’s Brazil CEO, Guilherme Sacamone, emphasized that the new services aim to make stablecoins a core component of everyday financial activity in the country. He explained that OKX seeks to make crypto both practical and empowering, enabling people to participate in the global economy without unnecessary fees or exchange barriers.
Brazil continues to strengthen its position as Latin America’s crypto leader, supported by clear regulations and pragmatic financial adoption. A Chainalysis report estimated that between July 2024 and June 2025, Brazilian users received approximately $318.8 billion in digital assets, representing nearly one-third of all crypto transactions in the region. Across Latin America, total crypto transaction volume reached about $1.5 trillion during the same period, with monthly activity surging from $20.8 billion in mid-2022 to a record $87.7 billion by December 2024.
With the introduction of OKX Pay and OKX Card, the company positions itself at the forefront of Brazil’s digital finance evolution, combining stablecoin savings, global payment access, and blockchain innovation to make borderless finance a reality for millions of users.