OKX Singapore launches stablecoin scan-to-pay service with Grab, StraitsX

Merchants will continue to receive Singapore dollars with no changes.

OKX Singapore (OKX SG) has launched OKX Pay, the city-state’s first stablecoin-powered scan-to-pay service in collaboration with StraitsX and Grab.

The feature allows users to make everyday payments with USDC or USDT by scanning GrabPay SGQR codes at participating merchants via the OKX SG app.

The app update enabling this new payment feature is now live on both the App Store and Google Play.

Running on the Purpose Bound Money (PBM) framework, transactions are settled programmatically and compliantly using StraitsX’s XSGD stablecoin as the underlying currency.

Merchants will continue to receive Singapore dollars with no changes to their existing payment infrastructure or flows, according to the companies.

The partners view Singapore as a proving ground for how programmable money can function in real-world retail settings.

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