Digital payment platform OKX SG, in collaboration with StraitsX and Grab, has launched the first stablecoin-powered scan-to-pay service in Singapore.

OKX Pay enables OKX SG customers to pay for everyday expenses using the USDC or USDT – US dollar-pegged stablecoins issued by Circle and Tether, respectively – at GrabPay merchant-partners by simply scanning their GrabPay SGQR code. 

Integrated within the OKX SG App, the service combines OKX SG’s nationwide digital payment token ( DPT ) community, StraitsX’s role as a regulated payment service provider enabling compliant settlement through the Purpose Bound Money ( PBM ) framework, and Grab’s extensive merchant-partner network to set a new benchmark for how DPTs can be used as real-world payments. 

According to OKX SG, the launch of OKX Pay marks a new chapter where DPTs become practical for everyday life. With the service, customers can now use their stablecoins for daily transactions while merchant-partners benefit from a simple, compliant way to accept stablecoin payments without handling DPTs themselves.

Every OKX Pay transaction is executed as a blockchain transfer using the PBM framework, which applies programmable logic to ensure compliant and conditional settlement. XSGD, the Singapore dollar-backed stablecoin issued by StraitsX, serves as the underlying currency for these transactions.

By embedding PBM and stablecoins into existing payment flows, OKX SG, StraitsX, and Grab say, they are showing how PBM/DPT-enabled payments can be compliant, seamless, and mainstream. 

The launch sets the stage for integration into networks across Asia and beyond. "The future of payments will be defined by trust, speed, and interoperability – and stablecoins are at the heart of this shift,” says  StraitsX co-founder and chief executive officer Tianwei Liu. “The launch of OKX Pay is more than a new service but a blueprint for how stablecoins will underpin global commerce in the years ahead.”