StraitsX powers OKX Pay launch with Grab to deliver Singapore's first stablecoin scan-to-pay service

StraitsX is proud to announce our role in powering the launch of OKX Pay, Singapore’s first stablecoin scan-to-pay service, in partnership with OKX SG and Grab. This milestone marks a significant step forward in expanding the use of stablecoins beyond trading and investments, making them accessible for everyday payments city-wide at GrabPay merchants across Singapore.

With OKX Pay, users of the OKX SG app can pay for everyday expenses, from morning coffee to dining out, by simply scanning SGQR codes presented by GrabPay merchants. Transactions are settled instantly via USDT or USDC stablecoin balances using StraitsX’s regulated payment infrastructure, while merchants receive Singapore dollars (SGD) directly into their bank accounts, with no need to handle digital asset tokens (DPTs).

As the backbone powering this innovation, StraitsX’s regulated stablecoin payment rails ensure that every transaction is fast, final, compliant, and secure. By bridging stablecoins and local currencies, StraitsX continues to lay the foundation for the next generation of payments, enabling interoperability across partners and networks, while providing instant settlement, reducing volatility risk, and delivering tangible benefits for both businesses and consumers.

‍Why OKX Pay?

OKX Pay brings stablecoins into everyday life, moving them beyond trading and investment to practical use cases such as buying a cup of coffee, dining out, or picking up groceries. By settling payments in Singapore dollars (SGD) through StraitsX, this removes volatility and compliance concerns for merchants, making adoption simple and risk-free. The platform also builds trust and regulatory alignment, as StraitsX’s regulated rails and compliance oversight ensure both users and merchants can transact with confidence. With islandwide GrabPay merchants already participating, OKX Pay represents meaningful adoption at scale, demonstrating that stablecoins can play a real, functional role in Singapore’s payment ecosystem.

OKX SG CEO, Gracie Lin said: "OKX Pay addresses real needs for Singaporeans by expanding DPTs’ use beyond trading and investing to everyday payments - from a morning coffee to dining out with friends. Through our partnership with Grab and StraitsX, two trusted and innovative companies, we’re taking a big step forward for Singapore’s payments landscape with our New Money App.”

Lim Kell Jay, Regional Head of Grab Financial Group, shared: “This partnership reflects Grab’s ongoing commitment to reducing friction and enhancing the payment experience for consumers and small to medium-sized businesses. By integrating OKX Pay with GrabPay through StraitsX’s settlement network, we are enabling our merchant-partners to benefit from expanding acceptance to a broader range of users and payment options, without any change to their existing flows.”

Tianwei Liu, StraitsX CEO & Co-Founder added: “The future of payments will be defined by trust, speed, and interoperability – and stablecoins are at the heart of this shift. StraitsX is building the rails that enable partners like OKX SG and Grab to bring digital money into everyday life, securely and at scale. The launch of OKX Pay is more than a new service but a blueprint for how stablecoins will underpin global commerce in the years ahead.”

‍Looking Ahead

StraitsX will continue to work with OKX SG to expand OKX Pay’s capabilities, including support for additional stablecoins and digital currencies beyond USDT and USDC, providing users with broader payment options. Merchant coverage will also grow to include more retail, F&B, services, and everyday outlets, making DPTs payments increasingly accessible.

Looking beyond Singapore, StraitsX will extend the reach of its stablecoin settlement network to cross-border and international payments, unlocking new opportunities for stablecoins to simplify remittances and enable borderless commerce across the region.

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