Crypto exchange OKX is launching a stablecoin payment card in Europe, Cointelegraph reported on Jan. 28 local time.
The card will be issued through OKX electronic money institution (EMI) partner Monavate and can be used directly on the Mastercard network.
At launch, it will support payments in USDC and USDG (Global Dollar).
OKX is registered as a crypto-asset service provider (CASP) regulated under the European Union’s Markets in Crypto-Assets (MiCA) framework, and Monavate will handle the card’s issuance and operations. Monavate is headquartered in the UK and operates in the European Economic Area (EEA) under anti-money laundering (AML) and know-your-customer (KYC) standards.
Monavate is set to be acquired by self-custody wallet provider Exodus. The OKX card can be topped up directly in the OKX app, and users must pass KYC and AML procedures in line with MiCA and EU AML guidelines.
Chi-kyu Hwang (황치규)
delight@d-today.co.kr