OKX SG, the Singapore-based unit of OKX, said it is bringing the crypto exchange's integrated payments service, OXK Pay, to the city-state through a stablecoin-powered scan-to-pay service tie-up with Southeast Asia's "everyday everything" app, Grab.

OKX SG, which received a major payment institution license from the country's central bank just over a year ago, will work with crypto infrastructure provider StraitsX to allow customers to pay for everyday expenses using the two largest U.S. dollar-pegged stablecoins, USDT, issued by Tether, and USDC, issued by Circle Internet (CRCL).

The launch of OKX Pay is a sign of the increasing adoption of stablecoins in commercial networks across Asia and beyond. StraitsX’s XSGD stablecoin is already integrated with Alipay+ and Grab, which enables wal

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