Singapore Shoppers Can Now Use USDT and USDC via OKX SG’s Scan-to-Pay Feature

OKX SG Brings USDT and USDC Scan-to-Pay to Singapore via Grab

OKX SG, the Singapore-based arm of crypto exchange OKX, has officially launched OKX Pay, a stablecoin-powered scan-to-pay service in partnership with Southeast Asia’s all-in-one app, Grab.

The service, supported by crypto infrastructure provider StraitsX, allows users to pay for everyday purchases using USDT from Tether and USDC from Circle (CRCL). Customers scan GrabPay SGQR codes at participating merchants, after which their stablecoins are converted into XSGD, StraitsX’s Singapore dollar-pegged stablecoin, and then settled into fiat for the merchant. This removes the need for businesses to directly handle digital payment tokens.

“OKX Pay expands digital tokens’ use beyond trading and investing to everyday payments — from coffee runs to dining out,” said Gracie Lin, CEO of OKX SG.

Stablecoins Gaining Traction in Daily Payments

Stablecoins, pegged to fiat currencies, offer reduced volatility compared with other cryptocurrencies, making them suitable for real-world payments. They also enable faster settlements and cross-border transactions, bridging the benefits of blockchain with practical commerce.

Stablecoin usage is growing rapidly. According to JPMorgan, monthly transaction volumes have risen to over $800 billion, up from under $100 billion five years ago. A BCG white paper indicates that payment-related uses—including merchant transactions, cross-border remittances, and on-chain settlements—account for 4%–6% of activity, with trading still dominating overall volume.

Compliance and Security at the Core

Every OKX Pay transaction is executed under Singapore’s Monetary Authority purpose-bound money (PBM) framework, which uses programmable logic to ensure compliant and conditional settlement. Its three-step conversion process provides a seamless, secure experience for both merchants and users.

“The future of payments will be defined by trust, speed, and interoperability, with stablecoins at the heart of this shift,” said Tianwei Liu, CEO and co-founder of StraitsX. “OKX Pay is more than a service — it’s a blueprint for how stablecoins will underpin global commerce in the coming years.”