OKX Introduces USD Stablecoin Payments in Brazil — A New Chapter for Saving and Spending?

Crypto exchange OKX has launched OKX Pay and OKX Card in Brazil, enabling users to engage with a USD-denominated stablecoin savings and payment system.

Key Takeaways

OKX has launched OKX Pay and OKX Card in Brazil, allowing users to access USD stablecoins easily.
There is a growing demand for dollar-based finance in Brazil due to inflation and currency fluctuations.
The platform helps users save on fees and transaction costs compared to traditional payment services.
Users can earn interest on their stablecoin balances and transact using a USD debit card linked directly to their wallets.
Brazil has become a leading player in the crypto space, with significant transaction volumes in recent years.

A vibrant illustration of the Brazilian flag.

This launch signifies a significant move towards providing digital dollar finance to everyday Brazilians, especially in light of the increasing need for inflation-resistant savings and cross-border payment options.

Growing Interest in Dollar-Based Finance

Stablecoins now represent over 90% of cryptocurrency transaction volume in Brazil as per industry data. This surge comes as the nation grapples with persistent inflation and currency instability. Brazil leads Latin America in terms of crypto transactions, ranking fifth globally for adoption rates.

Saving and transacting in USD has proven to be an appealing option for both households and small businesses aiming for financial stability in challenging economic conditions.

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

This initiative is part of a broader trend towards dollarization in emerging markets, spurred by digital assets that offer yield, liquidity, and global accessibility.

Reducing Fees and Foreign Exchange Costs

According to an internal cost analysis by OKX, their platform can help users save up to $39 in fees and taxes on a $1,000 transaction compared to conventional remittance or payment methods.

Using OKX Pay and Card with PIX integration incurs a cost of approximately $17.30 for a transfer, while spot market transactions can further lower costs to about $8.00. This is significantly cheaper compared to alternatives such as Wise ($42.90) or Nomad ($56.00).

The analysis takes into account the 3.5% IOF tax, which is Brazil's financial operations tax reinstated in May 2025, alongside foreign exchange spreads and platform fees. By using stablecoins for settlements, OKX effectively streamlines international currency conversion for local users, minimizing complications and costs.

Earning, Spending, and Saving in USD

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

The service facilitates both domestic and international transfers, supported by a localized onboarding process that utilizes Brazil’s CNH digital ID system for quick KYC verification.

Meanwhile, the OKX Card functions as an international USD Mastercard debit card, directly linked to users' stablecoin balances. It works globally through the Mastercard network and integrates with Apple Pay and Google Wallet for seamless payments worldwide.

“With OKX Pay and OKX Card, we’re centralizing stablecoins in the daily finances of Brazilians,” stated Guilherme Sacamone, CEO of OKX Brazil. “Our mission is to make crypto practical, empowering, and easily accessible—providing users with seamless, cost-effective access to the global economy without hidden fees or conversion expenses.”

Brazil’s Crypto Expansion Reaches $318 Billion

Brazil has solidified its status as the leading nation for crypto in Latin America, propelled by financial pragmatism, clear regulations, and the swift emergence of stablecoins as viable financial instruments.

According to a report from Chainalysis, from July 2024 to June 2025, Brazilian users received approximately $318.8 billion in digital assets, which accounts for nearly one-third of all crypto transactions in Latin America.

During the same period, cumulative crypto transaction volume in the region approached $1.5 trillion, with monthly trading activity rising from $20.8 billion in mid-2022 to an impressive $87.7 billion by December 2024.