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OKX Launches Stablecoin Payment Infrastructure in Brazil, Offering USD Access Without Foreign Transaction Fees
OKX, a leading global cryptocurrency platform and blockchain technology company, today launched OKX Pay and OKX Card in Brazil, providing Brazilians with direct access to USD-denominated stablecoin savings and payments infrastructure.
The launch addresses surging demand for dollar-based financial tools in Brazil, where stablecoins now account for over 90% of cryptocurrency transaction volume. Brazil leads Latin America in crypto transactions and ranks fifth globally for crypto adoption, driven by persistent inflation and currency volatility that have made stablecoins essential for savings and cross-border payments.
According to OKX’s cost analysis, the combined platform eliminates up to $39 in fees and taxes compared to traditional remittance services on a $1,000 transaction.
Built on OKX’s ZK-based X Layer blockchain, OKX Pay enables Brazilians to convert reais to USD stablecoins instantly through PIX integration and earn up to 10% annual percentage yield on balances, calculated daily and distributed weekly with no lock-up periods. Users can send and receive stablecoins domestically or internationally in seconds, with localized onboarding that includes fast KYC verification using Brazil’s CNH digital identity system.
OKX Card functions as an international USD Mastercard debit card that draws directly from users’ stablecoin balances, eliminating Brazil’s 3.5% IOF (Tax on Financial Operations) that was reinstated in May 2025 and applies to most foreign currency transactions. The card works anywhere Mastercard is accepted globally, with Apple Pay and Google Wallet integration.
“With OKX Pay and OKX Card, we’re putting stablecoins at the center of everyday finance for Brazilians, making it easier to dollarize, save, earn and spend while staying in control of their funds,” said Guilherme Sacamone, CEO of OKX Brazil. “Our goal is to give Brazilians seamless, cost-efficient access to the global economy—without hidden fees or conversion costs—and to make crypto practical, empowering, and accessible for everyone.”
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