okx announces okx payments and brings independent crypto payments to the mainstream

OKX launches a self-supporting platform that allows easy-to-use gas-free crypto payments.

OKX (OKB) is launching a new payment platform in the hopes of making it more independent than ever. On Monday, April 28th, OKX launched OKX Pay. OKXPay is a feature within the OKX app that allows easy crypto payments that feel like Venmo and Paypal, according to Exchange.

OKX Pay allows users to send USDT and USDC Stablecoins for zero fees. At the same time, users maintain full custody of the assets, protect against exchange risks and ensure secure storage.

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How okx works

Users can send assets directly to other OKX Pay users by selecting their contacts and entering their OKX username or ID. No complicated wallet addresses are required. According to OKX, users also benefit from quick transfers and flexible options.

“The settlement is almost instantaneous and there is no limit to the amount you can send and receive (object to required compliance and risk management)” OKX.

Furthermore, if you lose a seed phrase or device, users don’t have to worry about losing funds. According to OKX, the goal was to feel like a Web2 application like Venmo or CashApp.

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Additionally, OKX Pay rewards users based on the yield generated from deposits. OKX says rewards come from “low risk-on-chain protocols,” including staking, which the app handles automatically. Importantly, assets are not locked and users can withdraw funds and use them at any time.

OKX emphasized that the main goal of this project is to build a self-supporting solution that removes complexity. By eliminating the need for secret key management, OKX wants to promote the wide adoption of independence, the safest way to store crypto assets.

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