OKX Ignites Brazilian Crypto Revolution: USD Stablecoin Payments Go Live

Brazil's financial landscape just got a digital upgrade—OKX launches USD-pegged stablecoin payments, challenging traditional banking with borderless dollar access.

Breaking Down the Barrier

No more currency conversion headaches or banking delays. Brazilian users can now transact directly in USD stablecoins—bypassing local inflation and banking bureaucracy that typically strangles cross-border commerce.

Saving Revolution or Spending Game-Changer?

The platform enables instant settlements while offering protection against the real's volatility. Merchants gain exposure to dollar stability without the traditional banking markup—because who doesn't love cutting out the middleman taking a slice?

Traditional finance executives are probably updating their LinkedIn profiles right about now.

Rising Demand for Dollar-Based Finance

Stablecoins now account for more than 90% of cryptocurrency transaction volume in Brazil, according to industry data, as the country faces ongoing inflation and currency volatility. Brazil leads Latin America in crypto transactions and ranks fifth globally for adoption.

The ability to save and transact in USD has become an attractive alternative for households and small businesses seeking financial stability.

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

The initiative reflects a growing trend toward dollarization in emerging markets, driven by digital assets that combine yield, liquidity, and global access.

Eliminating Fees and FX Costs

According to OKX’s internal cost analysis, the combined platform eliminates up to $39 in fees and taxes on a $1,000 transaction compared to conventional remittance or payment services.

A transfer through OKX Pay and Card (PIX integration) costs roughly $17.30, while spot market use can reduce that to $8.00, significantly undercutting alternatives such as Wise ($42.90) or Nomad ($56.00).

The analysis factors in the 3.5% IOF tax—Brazil’s tax on financial operations reinstated in May 2025—along with foreign exchange spreads and platform fees. By using stablecoins as a settlement layer, OKX effectively removes the friction and cost of international currency conversion for local users.

Earning, Spending, and Saving in USD

Built on OKX’s ZK-based X LAYER blockchain, OKX Pay enables users to earn up to 10% annual percentage yield (APY) on their stablecoin balances, calculated daily and distributed weekly with no lock-ups.

The service supports domestic and international transfers, underpinned by localized onboarding that uses Brazil’s CNH digital ID system for fast KYC verification.

Meanwhile, OKX Card operates as an international USD Mastercard debit card, drawing directly from users’ stablecoin balances. The card works globally via Mastercard’s network and integrates with Apple Pay and Google Wallet, allowing frictionless payments anywhere in the world.

“With OKX Pay and OKX Card, we’re putting stablecoins at the center of everyday finance for Brazilians,” said Guilherme Sacamone, CEO of OKX Brazil. “Our goal is to make crypto practical, empowering, and accessible—giving people seamless, cost-efficient access to the global economy without hidden fees or conversion costs.”

Brazil’s Crypto Boom Hits $318B

Brazil has emerged as Latin America’s undisputed crypto leader, fueled by a combination of financial pragmatism, regulatory clarity, and the rapid rise of stablecoins as practical financial tools.

A report from Chainalysis shows that between July 2024 and June 2025, Brazilian users received an estimated $318.8 billion in digital assets, nearly one-third of all crypto transactions across Latin America.

Across the region, cumulative crypto transaction volume reached nearly $1.5 trillion during the same period, with monthly trading activity climbing from $20.8 billion in mid-2022 to a record $87.7 billion in December 2024.

Brazil's crypto boom has reached $318B, accounting for nearly a third of Latin America's market. Stablecoins dominate transactions, fueled by regulatory clarity.#Brazil #Stablecoins https://t.co/BcrOmyiC6w