OKX SG has launched OKX Pay, a stablecoin scan-to-pay service for GrabPay merchants in Singapore.

OKX SG, a digital payment token platform based in Singapore, partnered with StraitsX and Grab for the rollout.

The service lets users pay for daily purchases at GrabPay merchant locations using stablecoins USDT or USDC, with transactions converted to the StraitsX-issued XSGD stablecoin and settled in Singapore dollars.

OKX Pay is available on the OKX SG app for iOS and Android.

Payments are made by scanning GrabPay SGQR codes and use the Purpose Bound Money framework, which includes compliance and transaction validation features.

The collaboration is part of a broader trend of integrating stablecoins into existing payment networks in Singapore.

🔗 Source: OKX

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