Crypto exchange OKX has announced the launch of OKX Pay, a feature aimed at simplifying crypto payments and enhancing asset security.
Launch of OKX Pay and its Features
OKX Pay allows users to make instant crypto transfers with zero transaction fees. Currently, it supports stablecoins like USDT and USDC, with plans to expand the offerings. The app is designed for ease of use, streamlining the process of sending funds.
Split-Key Model for Security
The innovative split-key custody model ensures security and reliability. Users keep half of their private key in their wallet while OKX retains the other half. This setup allows for recovery of access to funds without compromising security. Funds cannot be accessed without user permission.
Future Integration with Mastercard and Stripe
OKX Pay has also announced future updates that will include integration with Mastercard and Stripe, significantly expanding the capabilities for using cryptocurrency in traditional payment systems. OKX CEO Star Xu emphasized that the purpose of the new service is to enhance the accessibility of cryptocurrencies for everyday financial transactions.
OKX Pay represents a significant step towards simplifying and popularizing the use of cryptocurrencies for everyday payments, with a focus on security and integration with traditional financial systems.
