Alisa Davidson
Revealed: April 30, 2025 at 7:00 am Up to date: April 30, 2025 at 7:00 am
Edited and fact-checked:
April 30, 2025 at 7:00 am
In Transient
OKX CEO Star Xu unveiled the OKX Pay app, a brand new crypto cost answer designed to simplify digital asset transactions and improve real-world utility.
CEO and founding father of cryptocurrency change OKX, Star Xu unveiled the corporate’s newest product—OKX Pay—throughout a keynote session on the Token2049 convention in Dubai. The applying is positioned as a brand new cryptocurrency cost answer, aiming to simplify digital asset transactions and increase real-world utility.
The brand new sub-application, OKX Pay, shall be launched inside the current OKX utility and can initially be accessible to customers in choose markets, with a full world rollout anticipated within the coming months. This answer introduces a dual-key safety strategy, the place one half of the personal secret’s saved in a passkey pockets managed by the consumer, whereas the opposite half is retained by OKX. This construction permits customers to get well their wallets utilizing zero-knowledge (ZK) electronic mail restoration in the event that they neglect their password. It additionally eliminates the necessity to retailer personal keys on paper or {hardware} wallets, providing a safer and user-friendly various. Funds stay protected, as no transaction may be executed with out the consumer’s specific permission.
OKX Pay is designed to make cryptocurrency funds extra sensible and intuitive, functioning equally to sending a message. At launch, the applying will help stablecoins solely, starting with USDT and USDC, with extra stablecoins anticipated to be added over time. Customers will have the ability to ship funds to people or teams shortly and simply, with no transaction charges. Transfers are settled virtually immediately, and there are not any exhausting limits on the quantities that may be despatched or obtained, supplied compliance and threat management measures are met.
A notable characteristic of OKX Pay is “Silent Rewards,” which permits customers’ deposits to develop routinely by way of yield earned from low-risk on-chain protocols. The platform handles yield discovery and staking on behalf of the consumer, eradicating the necessity for guide involvement. Deposits stay absolutely accessible and may be withdrawn at any time, providing a easy and versatile approach to earn rewards with out the everyday complexity of conventional staking options.
OKX Pay: A Self-Custody App With Zero Charges, Constructed-In Compliance, And Good-Incomes Options
OKX Pay’s core characteristic is its self-custody design, permitting customers to manage their cryptocurrency without having to handle personal keys—a component that has usually restricted broader adoption. The product features a compliance layer with know-your-customer (KYC) verification, anti-money laundering (AML) protocols, and multisignature safety, guaranteeing buyer safety. OKX itself can’t transfer funds with out consumer authorization. If a consumer forgets their password, restoration is simplified by way of account abstraction and ZK electronic mail, just like conventional banking methods.
Transactions on OKX Pay are free, enabled by X Layer, OKX’s ZK-based Layer 2 blockchain constructed utilizing Polygon’s CDK. At launch, customers additionally acquire entry to a smart-earning characteristic that gives yield on held funds. Trying forward, OKX plans to combine main cost suppliers like Mastercard and Stripe to allow in-store and on-line funds, with partnership bulletins anticipated quickly.
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About The Writer
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
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Alisa Davidson
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
