{"id":12080,"date":"2025-09-30T06:01:13","date_gmt":"2025-09-30T06:01:13","guid":{"rendered":"https:\/\/bitunikey.com\/news\/okx-singapore-rolls-out-stablecoin-payments-at-grabpay-merchants\/"},"modified":"2025-09-30T06:01:16","modified_gmt":"2025-09-30T06:01:16","slug":"okx-singapore-rolls-out-stablecoin-payments-at-grabpay-merchants","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/okx-singapore-rolls-out-stablecoin-payments-at-grabpay-merchants\/","title":{"rendered":"OKX Singapore rolls out stablecoin payments at GrabPay merchants"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">OKX Singapore has rolled out stablecoin payments for everyday purchases, letting customers pay with GrabPay merchant-partners across the city.<\/p>\n<div id=\"cn-block-summary-block_2fbe349ee2290347676f9d26cb73d90c\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>OKX Pay launches as Singapore\u2019s first stablecoin-powered scan-to-pay service.<\/li>\n<li>Customers can spend USDT and USDC at GrabPay merchants, with instant SGD settlement via StraitsX.<\/li>\n<li>The service expands stablecoin utility from trading into everyday payments.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>OKX Singapore\u2019s scan-to-pay service\u00a0 lets customers spend USDT and USDC stablecoins directly at GrabPay merchants across the country, making everyday crypto payments possible at retail outlets.<\/p>\n<p>According to a Sept. 30 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.okx.com\/learn\/okx-pay-singapore\" target=\"_blank\" rel=\"nofollow\">announcement<\/a> from OKX, the new feature, called OKX Pay, is the first service in Singapore that enables direct stablecoin payments at GrabPay merchants. <\/p>\n<h2 class=\"wp-block-heading\">First stablecoin scan-to-pay service in Singapore<\/h2>\n<p>Users simply scan a GrabPay SGQR code through the OKX SG app, and the payment is settled instantly. Merchants receive Singapore dollars, while funds are deducted from the customer\u2019s stablecoin balance.<\/p>\n<p>The service is powered by a collaboration with StraitsX and Grab. Tether (USDT) and USD Coin (USDC) payments are converted into SGD by StraitsX\u2019s Singapore dollar-backed stablecoin, XSGD, which serves as a bridge. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>This allows merchants to integrate stablecoin payments without extra steps. OKX highlighted that GrabPay\u2019s wide network of caf\u00e9s, restaurants, retail stores, and hawker stalls are now accessible for stablecoin transactions.<\/p>\n<h2 class=\"wp-block-heading\">Building on Singapore\u2019s digital payments framework<\/h2>\n<p>The launch builds on Singapore\u2019s position as a hub for regulated stablecoins. With a Major Payment Institution license from the Monetary Authority of Singapore, OKX is able to provide digital payment services within the framework set up by the nation. <\/p>\n<p>StraitsX\u2019s XSGD, fully backed by reserves at DBS Bank and Standard Chartered, has also been aligned with MAS\u2019s Project Orchid initiative, ensuring transparency and compliance.<\/p>\n<p>OKX Pay brings stablecoins out of trading platforms and into daily use cases, offering consumers a scan-to-pay option and merchants immediate settlement in local currency. This follows earlier integrations by Grab, including crypto wallet top-ups in 2024 and cross-border solutions with Alipay+ in 2025.<\/p>\n<p>The move, according to industry analysts, is a major step toward integrating digital and traditional finance. By embedding stablecoins into Singapore\u2019s mainstream payments network, OKX, Grab, and StraitsX may set a model for how crypto can be integrated into regulated financial ecosystems.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>OKX Singapore has rolled out stablecoin payments for everyday purchases, letting customers pay with GrabPay merchant-partners across the city. Summary OKX Pay launches as Singapore\u2019s first stablecoin-powered scan-to-pay service. Customers&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=12080"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12080\/revisions"}],"predecessor-version":[{"id":12081,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12080\/revisions\/12081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/9287"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=12080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=12080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=12080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}