OKX SG Launches USDT and USDC Scan-to-Pay Service in Singapore via Grab Partnership

OKX SG, the Singapore-based subsidiary of cryptocurrency exchange OKX, has announced the integration of its payment service OKX Pay with Southeast Asia's super-app Grab. This collaboration introduces a stablecoin-powered scan-to-pay feature allowing Singaporean users to utilize USDT (Tether) and USDC (USD Coin) for daily transactions. Through partnership with crypto infrastructure provider StraitsX, OKX Pay converts users' USDT/USDC into XSGD stablecoin, which is then settled as fiat currency for merchants. The service leverages Singapore's Purpose Bound Money framework for compliant blockchain settlements. Industry data reveals stablecoin transaction volumes have surged from $100B to over $800B monthly within five years, with payments accounting for 4-6% of total stablecoin activity according to BCG's 2025 report.