OKX Singapore Ignites Crypto Revolution with Stablecoin Payments at GrabPay Merchants

Singapore's digital payment landscape just got a major crypto upgrade—OKX unleashes stablecoin payments across GrabPay's merchant network.

The Stablecoin Takeover

No more fumbling with currency conversions or traditional banking delays. OKX's integration lets users tap stablecoins directly at thousands of GrabPay merchants—bypassing legacy financial bottlenecks that typically slow down digital transactions.

Mass Adoption Accelerates

This partnership bridges the gap between crypto enthusiasts and everyday spending. Users can now convert their stablecoins seamlessly for real-world purchases—from food deliveries to ride-hailing services—without touching traditional banking rails.

Singapore's Crypto Leap

While regulators elsewhere debate digital assets, Singapore quietly builds the infrastructure for mainstream crypto adoption. Another reminder that while traditional finance debates blockchain, real innovation happens in execution—not committee meetings.

First stablecoin scan-to-pay service in Singapore

Users simply scan a GrabPay SGQR code through the OKX SG app, and the payment is settled instantly. Merchants receive Singapore dollars, while funds are deducted from the customer’s stablecoin balance.

The service is powered by a collaboration with StraitsX and Grab. Tether (USDT) and USD Coin (USDC) payments are converted into SGD by StraitsX’s Singapore dollar-backed stablecoin, XSGD, which serves as a bridge.

This allows merchants to integrate stablecoin payments without extra steps. OKX highlighted that GrabPay’s wide network of cafés, restaurants, retail stores, and hawker stalls are now accessible for stablecoin transactions.

Building on Singapore’s digital payments framework

The launch builds on Singapore’s position as a hub for regulated stablecoins. With a Major Payment Institution license from the Monetary Authority of Singapore, OKX is able to provide digital payment services within the framework set up by the nation.

StraitsX’s XSGD, fully backed by reserves at DBS Bank and Standard Chartered, has also been aligned with MAS’s Project Orchid initiative, ensuring transparency and compliance.

OKX Pay brings stablecoins out of trading platforms and into daily use cases, offering consumers a scan-to-pay option and merchants immediate settlement in local currency. This follows earlier integrations by Grab, including crypto wallet top-ups in 2024 and cross-border solutions with Alipay+ in 2025.

The move, according to industry analysts, is a major step toward integrating digital and traditional finance. By embedding stablecoins into Singapore’s mainstream payments network, OKX, Grab, and StraitsX may set a model for how crypto can be integrated into regulated financial ecosystems.