OKX Launches Stablecoin Payment Card Across Europe Under MiCA Rules

Highlights:

• OKX launched a stablecoin payment card in Europe that lets users spend stablecoins at Mastercard merchants.
• The card operates with full KYC checks and licensed payment partners.
• OKX has positioned the card around self-custody while expanding regulated operations across Europe.

OKX, a crypto exchange headquartered in Seychelles, has rolled out a new stablecoin payment card across Europe. The card allows users to spend stablecoins at merchants that accept Mastercard. The rollout marks an expansion of OKX’s payment services in the region. The company said the card targets routine consumer spending.

OKX @Mastercard Card is now live in Europe! 🇪🇺

We’re modernising money by bringing onchain payments into everyday life.

Pay directly with stablecoins, skip the fee, and earn up to 20% cashback in your first month.
Go to: https://t.co/HhGjOsAMI6 pic.twitter.com/pTDv7dpj6p

— OKX Nordics (@OKXNordics) January 28, 2026

The card supports USDC and USDG at launch. Users spend funds directly from wallets inside the OKX application. Conversion into local currency happens at the point of sale. Merchants receive fiat payments through the Mastercard network.

The card is accepted in over 150 million merchant points across the globe. Customers have the option to pay both at physical stores and online. The card is compatible with Apple Pay and Google Pay. Mobile payments are made under regular card settlement procedures.

OKX reported that the card has no transaction or foreign exchange fees. When converting currencies, a market spread is applied. The spread represents pricing at the moment of purchase. OKX did not report the ranges of specific spreads. Before final settlement, payments pass via OKX systems. The final payment leg is managed by Mastercard. Merchants do not deal with crypto assets when settling. Until conversion, wallet funds are retained by the user.

How the Stablecoin Payment Card Operates Under European Rules

OKX is an authorized crypto asset service provider in the European Union. The exchange is authorized by the Markets in Crypto Assets framework. The license imposes reporting and compliance requirements on OKX. These regulations control disclosures of custody and consumer protection.

The card is issued by Monavate, the licensed Electronic Money Institution. The company is in operation within the European Economic Area. The framework enables the card to operate within the current EU payment regulations. Users must complete identity verification before accessing the card. OKX applies know your customer and anti-money laundering checks. These checks apply to all card users. The requirements align with EU compliance standards.

The regulatory focus follows recent developments outside Europe. OKX resumed United States operations in April. The return followed a settlement with the Department of Justice. In February, the exchange paid more than $500 million related to licensing violations. The agreement allowed OKX to reenter the U.S. market.

OKX is also preparing for a potential initial public offering in the United States. The company manages its American operations from San Jose. The exchange has not announced a timeline or confirmed filing details.

Rewards and Strategy Behind the European Expansion

OKX launched the card with cashback incentives for early users. VIP users can earn up to 20% in crypto rewards, while other verified users can earn up to 15%. The company did not specify how long the promotion will last. OKX said the card supports activity across its wider platform. The exchange generates revenue through trading and financial services. The card does not serve as a direct profit product. OKX framed it as part of ecosystem engagement.

The launch places OKX among several exchanges offering crypto payment cards in Europe. Binance, Kraken, and Crypto.com already operate similar products. OKX has positioned its card around wallet control during payments. Other platforms often require preloaded custodial balances.

In a recent development, OKX has also expanded its partnership with Standard Chartered Bank in the European Economic Area. The exchange announced the expansion in October. Earlier last year, both firms launched a collateral mirroring program in the United Arab Emirates.

OKX x Standard Chartered | Expanding into Europe 🇪🇺

We’re strengthening our banking partnerships — bringing Standard Chartered’s regulated custody into our European institutional offering.

This expansion supports safeguarded collateral mirroring, giving institutions…

— OKX (@okx) October 15, 2025