OKX Unveils Europe‑Wide Crypto Card for Stablecoin Payments
January 28, 2026 – Cointelegraph
Cryptocurrency exchange OKX has announced the launch of a Mastercard‑linked payment card that enables European users to spend stablecoins at any merchant that accepts the card network. The service, marketed as the OKX Card, is issued through the exchange’s Electronic Money Institution (EMI) partner Monavate and is targeted at verified OKX account holders.
How the Card Works
The OKX Card is built on top of OKX Pay, a self‑custodial wallet embedded in the OKX mobile application. Users can top‑up the wallet directly from their exchange balances and then use the physical or virtual card to pay in fiat‑equivalent terms. At launch, the card supports two widely used stablecoins:
| Stablecoin | Issuer | Ticker |
|---|---|---|
| USDC | Circle | USDC |
| USDG (Global Dollar) | Paxos | USDG |
When a purchase is made, the stablecoin is automatically converted into the local currency at the point of sale, allowing seamless transactions without the merchant needing any crypto infrastructure.
Regulatory Framework
OKX operates in the European Union as a regulated crypto‑asset service provider (CASP) under the Markets in Crypto‑Assets Regulation (MiCA). The card itself falls under the licensing of Monavate, a UK‑based EMI that issues the Mastercard product and complies with the European Economic Area’s anti‑money‑laundering (AML) and know‑your‑customer (KYC) rules.
Monavate, which is slated to be acquired by the self‑custodial wallet provider Exodus following a definitive agreement announced in November 2025, will continue to manage the issuance and settlement of the card on Mastercard’s global network.
Mandatory KYC for Card Access
Only users who have completed OKX’s stringent KYC and AML verification process are eligible for the card. The verification aligns with MiCA and the EU’s AML Directives, ensuring that the service meets the highest regulatory standards before funds can be spent through the card.
Market Context
The introduction of the OKX Card arrives at a time when crypto‑linked payment solutions are gaining traction across Europe. A recent industry report highlighted a 525 % surge in net spending on Visa‑issued crypto cards in 2025, underscoring a growing appetite for using digital assets in everyday commerce.
By focusing on stablecoins—cryptocurrencies pegged to fiat currencies—OKX aims to mitigate price volatility, a key barrier that has historically limited mainstream adoption of crypto payments.
Executive Perspective
OKX Europe’s chief executive, Erald Ghoos, emphasized that the card is intended to “make crypto usable for real‑world purchases without the technical hurdles that many users face.” He added that the offering addresses the most fundamental financial need—payments—while allowing users to retain full control over their assets.
Key Takeaways
- Stablecoin‑Based Payments: The OKX Card initially supports USDC and USDG, allowing users to spend crypto‑backed fiat equivalents at any Mastercard‑accepting merchant.
- Regulatory Compliance: Operates under MiCA as a CASP, with card issuance handled by Monavate, an EMI subject to EU AML/KYC standards.
- Restricted to Verified Users: Access requires completion of rigorous KYC/AML checks, aligning with European regulatory expectations.
- Strategic Partnership: Monavate’s pending acquisition by Exodus could integrate broader self‑custodial wallet capabilities into the card ecosystem.
- Industry Momentum: The launch follows significant growth in crypto card spend, indicating increasing consumer comfort with digital‑asset payments.
The OKX Card represents a strategic step toward mainstreaming stablecoin usage in Europe, providing a bridge between the crypto ecosystem and traditional retail environments while adhering to the region’s emerging regulatory landscape.
Source: https://cointelegraph.com/news/okx-eu-crypto-card-regulated-issuer-monavate?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
