OKX Launches 'USDC Trading Account Auto-Earning' Product for VIP 1 Users
OKX introduces a new auto-earn feature for USDG, allowing users to earn passive income with weekly payouts and no additional fees, in compliance with Singapore's regulations.
USDG
Fact Check
The statement is confirmed by multiple sources, including the official OKX help center (Source 5), which announces the 'USDC launching on Trading Account Auto Earn' for VIP users. News reports from AInvest (Sources 1, 6, 7) corroborate this and specifically state the eligibility is for 'VIP 1+' users, which directly supports the claim.
Summary
OKX has launched the USDG auto-earn feature, enabling users to earn passive income from USDG holdings without extra fees. The feature offers weekly payouts and is backed by Paxos Digital Singapore, adhering to regulations from the Monetary Authority of Singapore.
Terms & Concepts
- USDG Auto-Earn: A feature by OKX that allows users to earn passive income by holding USDG in their accounts, with weekly payouts and no additional fees.
- Paxos Digital Singapore: A regulatory-compliant digital asset platform backed by the Paxos Trust Company, ensuring the stability and legitimacy of digital asset offerings.
- Monetary Authority of Singapore (MAS): The central bank and financial regulatory authority of Singapore, responsible for regulating financial institutions and maintaining the stability of the financial system.