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OKX Pay Adds USDG on X Layer with 10% APY Launch Offer

OKX Pay’s integration of USDG stablecoin on X Layer includes high-yield promotional rates, advancing regulated digital asset adoption under Singapore’s MAS framework.

USDG

Summary

In an official announcement, OKX Pay confirmed support for USDG on X Layer, with a launch promotion offering 10% APY on the first 10,000 USDG and 5% APY thereafter. USDG, pegged to the U.S. dollar, is issued by Paxos Digital Singapore, backed by U.S. Treasuries, and subject to monthly audits under the Monetary Authority of Singapore’s stability framework. The initiative is aimed at promoting USDG adoption within the X Layer ecosystem.

Terms & Concepts
  • USDG: A stablecoin pegged to the U.S. dollar, issued by Paxos Digital Singapore, backed by U.S. Treasuries, and audited monthly.
  • APY (Annual Percentage Yield): A measure of return on an investment over a year, accounting for compound interest.
  • MAS stability framework: Monetary Authority of Singapore's regulatory guidelines for ensuring the stability of financial instruments like stablecoins.