USDT and USDC Scan-to-Pay Arrives in Singapore Through OKX SG

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

OKX SG, the Singapore-based arm of the crypto exchange OKX, has rolled out OKX Pay, its integrated payments service, in collaboration with Southeast Asia’s all-in-one app Grab. The service allows users to pay for everyday purchases using stablecoins.

Powered by crypto infrastructure provider StraitsX, OKX Pay supports USDT from Tether and USDC from Circle (CRCL), enabling users to settle transactions at participating merchants by scanning GrabPay SGQR codes. The stablecoins are converted into XSGD, StraitsX’s Singapore dollar-pegged stablecoin, which is then converted into fiat for merchants, removing the need for businesses to manage digital tokens directly.

“OKX Pay expands the use of digital tokens beyond trading into everyday payments — from coffee to dining out,” said Gracie Lin, CEO of OKX SG.

Stablecoins in Commerce

Stablecoins, pegged to fiat currencies, offer low volatility compared with traditional cryptocurrencies, making them suitable for daily transactions. They also provide faster settlement and cross-border payment efficiency, bridging digital asset benefits with practical commerce.

The adoption of stablecoins is rapidly increasing. JPMorgan reports monthly transaction volumes exceeding $800 billion, up from less than $100 billion five years ago. A BCG white paper notes that payments-related use cases—including merchant payments, cross-border remittances, and on-chain settlements—now account for 4%–6% of activity, while trading remains dominant.

Compliance and Security

OKX Pay executes transactions on the blockchain under Singapore’s Monetary Authority purpose-bound money (PBM) framework, applying programmable logic to ensure compliant and conditional settlement. Its three-step conversion process ensures a seamless, secure payment experience for both users and merchants.

“The future of payments will be defined by trust, speed, and interoperability, with stablecoins at the center of this evolution,” said Tianwei Liu, CEO and co-founder of StraitsX. “OKX Pay is more than a service launch — it’s a blueprint for how stablecoins can drive global commerce.”