In April 2025, the crypto exchange OKX launched its payment service, OKX Pay, built on the exchange’s X Layer blockchain. The platform aims to make sending and receiving crypto as seamless as traditional bank transfers, offering instant transactions, an intuitive interface, and essential tools for managing assets and interacting with Web3 platforms.
Here’s a closer look at how OKX Pay works, its main features, and how to start using it.
Key Features and Architecture
OKX Pay is a payment system integrated into the OKX ecosystem, allowing users to send and receive digital assets. It runs on X Layer, an EVM-compatible Layer 2 network developed by OKX.
Unlike standard crypto wallets, OKX Pay does not require users to store mnemonic phrases or manually manage private keys. Instead, it uses distributed key management, where part of the private key is stored on the user’s device and the other part on OKX’s side. Transactions require authorization from both parties.
Core capabilities include:
- No need to handle mnemonic phrases or private keys manually
- Instant, fee-free transactions on X Layer
- Built-in KYC, AML compliance, and multi-signature security
- Chat functionality and personalized crypto gifts
If a device is lost, access to funds can be restored via the ZK Email verification system, which sets OKX Pay apart from traditional wallets.
Supported Currencies and Conversion
OKX Pay currently supports stablecoins on the X Layer network: USDT, USDC, and USDG.
Its Convert to Pay feature allows users to automatically convert assets from other blockchains—Ethereum, TRON, Arbitrum, Base, Avalanche, and Optimism—with instant, fee-free cross-chain conversions. Users can also convert back to the original blockchain if needed.
The platform displays all transfer stages in real time and charges no fees for internal X Layer transactions, making cross-chain operations faster and more convenient than typical DeFi methods. OKX plans to expand the list of compatible networks and assets as its Web3 ecosystem grows.
Payments and Transfers
OKX Pay is accessible via the OKX mobile app or OKX Wallet app. Supported transaction types include:
- Transfers between OKX Pay users
- Sending funds through the integrated chat
- Transfers between OKX Pay and the main exchange account
- Cross-chain transfers via supported networks
X Layer transfers are fee-free, while other networks (Ethereum, TRON, etc.) follow standard on-chain fees. Users can also transfer funds between their payment wallet and exchange account without fees, streamlining asset management and trading.
Use Cases
OKX Pay is suitable for everyday transactions as well as specialized use cases:
- Sending stablecoins to other OKX Wallet accounts without long blockchain addresses or gas fees
- Initiating transactions via a generated link or QR code for near-instant transfers
- Receiving payments for goods or services in crypto
- Collecting donations or payments within communities
- P2P payments, team transactions, and online marketplace payments
A notable integration occurred with GrabPay in Singapore, allowing users to pay with OKX Pay and merchants to receive funds in XSGD stablecoins pegged to the Singapore dollar.
Rewards and Passive Income
OKX Pay also offers passive income through Pay Rewards, giving up to 5% annual yield on tokens held in the X Layer wallet. Rewards are calculated daily based on the average balance and paid monthly, remaining fully accessible.
Users can additionally earn through other OKX products like Simple Earn or On-chain Earn.
Security, Verification, and Limits
Operating within the OKX ecosystem, OKX Pay inherits robust security and verification standards. To access all features, users must complete KYC verification with an ID and selfie. Security measures include:
- Multi-signature transactions on X Layer
- End-to-end encryption for user data
- Real-time monitoring of suspicious activity
- Unique Passkey for digital identity across devices
Partial account verification or unusual activity may trigger limits, transaction freezes, or re-verification requests.
Advantages and Risks
Advantages:
- Direct, fast, and fee-free transactions between users
- Up to 95% of assets stored in OKX cold wallets
- Access recovery via ZK Email social verification
- Non-custodial design with user control over funds
- Simplified use without compromising security
Risks:
- Not fully decentralized—some information is stored on OKX servers, requiring a degree of trust
- Users must maintain digital hygiene and device security
Getting Started with OKX Pay
To use OKX Pay, registered and verified OKX users need the latest mobile app:
- Activate OKX Pay
- Switch the app to Pay mode and tap Get Started.
- Complete identity verification if prompted.
- A Passkey will be generated for signing transactions.
- Fund Your Wallet
- From the exchange account via Add from Exchange
- From external wallets using Onchain Receive (supports X Layer, Ethereum, TRON, etc.)
- Send Funds
- Choose a contact via phone, email, or wallet address
- Send crypto instantly, or transfer funds to your exchange account for trading or fiat conversion
- Enable Rewards
- Activate Pay Rewards to earn up to 5% annually
- Rewards accrue daily and remain liquid
- Use Chat Transfers
- Send crypto directly in the chat tab; non-registered recipients receive an installation link
OKX Pay offers seamless navigation between exchange, Pay, and Web3 functionalities.
OKX Pay combines the convenience of traditional payments with Web3 features: instant transfers, cross-chain conversion, chat-based payments, and passive income. Its intuitive interface supports a wide range of use cases, appealing to both newcomers and experienced users seeking a balance between control, security, and usability.
While the platform simplifies crypto usage, users should remain aware of basic risks, such as device loss and regulatory limitations.
