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How the OKX Card Converts Stablecoins into Euro Payments

Article OKX Learn
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Summary

The document explains how the OKX Card uses USDC or USDG held in OKX Pay to fund purchases. At checkout, the balance is converted to euros and processed through Mastercard, while the stablecoins remain in the wallet until a payment occurs. It also outlines eligibility, application steps, supported currencies, and the distinction between this setup and a conventional bank-linked card.

The fee and reward details are presented as terms current at the document’s stated dates: OKX charges no card, transaction, or foreign exchange fee, but applies a 0.1% conversion spread. Cashback is tied to USDG-funded purchases and VIP level; the document says USDC purchases do not qualify. It reports transaction patterns for a one-month period, including food-related spending, but gives no independent analysis or broader comparison. Availability, reward rates, and terms may change, and the card requires a verified account and sufficient OKX Pay balance.

Key ideas

  • The card draws payment funds from USDC or USDG in OKX Pay.
  • Stablecoins are converted to euros at the time of purchase and routed through Mastercard.
  • The document reports a 0.1% conversion spread and no additional OKX transaction or foreign exchange fees.
  • Cashback is available only for USDG-funded purchases and varies by VIP level.
  • The card is limited to eligible EEA users and requires identity verification.

Tags

CryptoSpot marketsExecutionRisk management

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.