OKX has launched a payment card for the European Union that allows users to use stablecoins such as USDC and USDG at Mastercard merchants. The product is issued by UAB Monavate, a Lithuanian electronic money institution, and is designed to convert stablecoins to fiat currency at the point of sale under the MiCA regulatory framework.
OKX designed the card to eliminate fees and thus avoid separate conversion steps. During payment, the stablecoin balance in OKX Pay is automatically converted to euros. Furthermore, the card integrates with Apple Pay and Google Pay for use online and in participating stores. OKX emphasizes user control by keeping assets out of third-party custody until the moment of purchase.
The card offers automatic and immediate conversion from the OKX Pay app, with zero transaction and currency exchange fees (a market spread of 0.4% applies to the conversion). It also features launch incentives, including up to 20% cashback for VIP users and up to 15% for all other users.
The key aspects of the OKX card launch
The OKX card is issued through Monavate and processed on Mastercard’s infrastructure, operating under MiCA regulations and subject to European Union AML/KYC standards. This means it complies with the entire regulatory framework for safe use by consumers and institutions, although some uncertainty remains regarding Monavate’s capabilities.
Another key point is that Exodus announced its acquisition of Monavate last November, but the deal is still pending and subject to strategic changes that could affect the card’s launch.
The card eliminates a common point of friction between cryptocurrency custody and everyday spending, but its long-term viability depends on Monavate’s operational resilience and the outcome of the pending corporate transition. Regulatory reactions and any further action by the issuer will determine whether the product scales smoothly across the EEA or faces disruptions that test the model’s reliance on third-party infrastructure.
