introduction
In an exclusive interview with Blockchain ReporterWe sat down with Gracie Lynn, CEO OK XSG. In an interview, we discussed the long-awaited launch of the OKX Card in Singapore – a first-of-its-kind stablecoin debit card, designed in a way that makes everyday spending on crypto as seamless as using our traditional money.
We also reveal the vision behind OKX Card and its deep integration with OKX Pay as well as how partnerships with Visa and StraitsX are setting new standards in Singapore’s rapidly evolving Web3 payments landscape. From self-incubation to zero profit margins in foreign currencies, Gracie Lynn Show us how OKX SG is quietly but confidently rewriting the rules of stablecoin interest in the city-state.
Interview session
What was the motivation behind launching OKX Card in Singapore, and how are you redefining stablecoin spending through OKX Pay integration?
The motivation is clear and straightforward: spending stablecoins should be as easy as any other form of money. OKX Card is natively linked to OKX Pay, our self-custodial payments feature, meaning customers can hold stablecoins in their own wallet and spend them directly – no transfer step, and no transfer to a third party account. The integration sees OKX push the spending layer of stablecoins, turning the store of value into a practical daily payment tool.
What is the difference between OKX Card and other crypto-based debit cards in Singapore?
The main differences are custody, compliance and cost. Customers retain full custody of their funds through OKX Pay – we do not hold assets on their behalf. Settlement is handled compliantly through Visa and StraitsX, the latter a regulated entity. There are no foreign exchange rate increases on international spending, which is a real cost advantage.
How do StraitsX and Visa contribute to ensuring stable and compatible fiat-to-fiat transfers?
Each of them solves a distinct part of the problem. Visa provides the global merchant network and card infrastructure — the rails that connect our customers to tens of millions of merchants around the world. StraitsX is a regulated payment service provider that handles the compliant conversion of stablecoins into local fiat currency at the point of sale. Together, they ensure that every transaction is technically seamless for the user and fully compliant with Singapore’s regulatory requirements. Neither piece works without the other.
What are the benefits of using OKX Card globally, and how does it support in-store and online payments?
The OKX card works anywhere Visa is accepted – which means more than 150 countries and tens of millions of merchants, both online and in-store. Customers can tap in-store, use Apple Pay or Google Pay for contactless payments, or enter card details for online purchases. International spending doesn’t carry any foreign exchange rate increases, so customers pay at the Visa exchange rate no matter where they are. For anyone who frequently travels or shops cross-border, this is a meaningful financial benefit as well as convenience.
What is the OKX Card mechanism to ensure complete custody and security for stablecoin users?
OKX Card is linked to OKX Pay, a self-custodial wallet – meaning customers hold their own stablecoins rather than trusting us with them. Funds are transferred only at the moment of the transaction initiated by the cardholder.
How does OKX Card manage currency conversion for international payments without charging any hidden foreign currency fees?
When a customer makes a purchase in a foreign currency, the stablecoins in their OKX Pay wallet are converted into the merchant’s local fiat currency at the Visa exchange rate – the same rate used by the underlying network, with no additional markup applied by OKX. An asset conversion margin of 0.1% may apply in some cases, but this is disclosed upfront.
What Visa Platinum benefits can OKX cardholders benefit from?
OKX cardholders enjoy the full suite of Visa Platinum benefits that come with the card tier. For the latest and most complete details on what’s included — such as travel benefits, merchant offers, and concierge services — we recommend customers check which Visa Platinum benefits apply to them.
Can you explain OKX’s plan to utilize the OKX Card for worldwide access?
OCX card It is already available in some other regions, such as Europe. As the company looks to expand card issuance into other markets, we will follow the same approach that has guided our growth in Singapore: build locally, build responsibly, and launch when the conditions are right.
What is OKX SG’s strategy for navigating regulatory compliance for its stablecoin-based debit card?
Compliance is built into the product architecture, not installed afterwards. Settlement is handled by Visa and StraitsX, the latter a locally regulated entity, ensuring that every stablecoin-to-fiat conversion meets requirements.
Can you share any upcoming innovations or features planned for OKX Card to improve customer experience?
We’re not in a position to share specific roadmap details at this point, but our direction is clear: we want to expand the utility of OKX Pay and OKX Card over time, both in terms of stablecoins supported and financial capabilities accessible through the wallet. Payments are the starting point. The long-term vision is a self-custodial platform where customers can hold, spend and operate their digital assets – all within a compliant and easy-to-use experience.
The future of payments: what lies ahead?
The OKX Card is more than just a crypto debit card, it represents a thoughtful and well-designed step towards making stablecoins a real, valid everyday currency. With self-custody at its core, regulatory compliance built into its infrastructure, and Visa’s global merchant network as its backbone, OKX is set to play the long game.
Gracie Lynn explained that the payments are just the beginning. The broader ambition is a self-custodial financial platform where users can hold, spend and grow their digital assets without compromising compliance and convenience.
