Introduction
In an exclusive interview with BlockchainReporter, we sat down with Gracie Lin, the Chief Executive Officer (CEO) of OKX SG. In an interview we discussed the much-anticipated launch of the OKX Card in Singapore – a first-of-its-kind stablecoin-powered debit card, which is designed in such a way that makes everyday crypto spending as seamless as using our traditional money.
We also unfold the vision behind the OKX Card and its deep integration with OKX Pay as well as how partnerships with Visa and StraitsX are setting new benchmarks in Singapore’s rapidly evolving Web3 payments landscape. From self-custody to zero FX markups, Gracie Lin enlightened us how OKX SG is quietly but confidently rewriting the rules of stablecoin utility in the city-state.
Interview Session
What is the motive behind OKX Card’s launch in Singapore, and how does it redefine stablecoin expenditure with OKX Pay integration?
The motivation is straightforward: stablecoins should be as easy to spend as any other form of money. OKX Card is natively linked to OKX Pay, our self-custodial payments feature, which means customers can hold stablecoins in their own wallet and spend them directly — no conversion step, no transfer to a third-party account. The integration makes OKX Pay the spending layer for stablecoins, turning a store of value into a practical, everyday payment tool.
What is OKX Card’s distinction in comparison with other crypto-based debit cards in Singapore?
The key differences are custody, compliance, and cost. Customers retain full custody of their funds through OKX Pay — we don’t hold assets on their behalf. Settlement is handled compliantly through Visa and StraitsX, the latter of which is a regulated entity. And there are no FX markups on international spending, which is a genuine cost advantage.
How do StraitsX and Visa contribute to ensuring seamless and compliant stablecoin-to-fiat transfers?
They each solve a distinct part of the problem. Visa provides the global merchant network and card infrastructure — the rails that connect our customers to tens of millions of merchants worldwide. StraitsX is a regulated payment service provider that handles the compliant conversion of stablecoins to local fiat currency at the point of sale. Together, they ensure that every transaction is both technically seamless for the user and fully compliant with Singapore’s regulatory requirements. Neither piece works without the other.
What are OKX Card’s global usage benefits, and how does it support both in-store and online payments?
OKX Card works anywhere Visa is accepted — which means over 150 countries and tens of millions of merchants, online and in-store. Customers can tap in-store, use Apple Pay or Google Pay for contactless payments, or enter card details for online purchases. International spending carries no FX markups, so customers pay at Visa’s exchange rate regardless of where they are. For anyone who travels frequently or shops across borders, that’s a meaningful financial benefit on top of the convenience.
What is OKX Card’s mechanism to ensure full custody and security for stablecoin users?
OKX Card is linked to OKX Pay, which is a self-custodial wallet — meaning customers hold their own stablecoins rather than entrusting them to us. Funds are only moved at the moment of a transaction, initiated by the cardholder.
How does OKX Card manage currency conversion for international payments while charging no hidden FX fees?
When a customer makes a purchase in a foreign currency, the stablecoins in their OKX Pay wallet are converted to the merchant’s local fiat currency at Visa’s exchange rate — the same rate used by the underlying network, with no additional markup applied by OKX. A 0.1% asset conversion spread may apply in some cases, but this is disclosed upfront.
What Visa Platinum benefits can OKX Card holders leverage?
OKX Card holders enjoy the full suite of Visa Platinum benefits that come with the card tier. For the most current and complete details on what’s included — such as travel benefits, merchant offers, and concierge services — we’d recommend customers check the Visa Platinum benefits applicable to them.
Could you explain OKX’s plan to leverage OKX Card for worldwide reach?
OKX Card is available in some other regions already, such as Europe. As the business looks at expanding card issuance to other markets, we’ll follow the same approach that has guided our growth in Singapore: build locally, build responsibly, and launch when the conditions are right.
What is OKX SG’s strategy to navigate regulatory compliance for a stablecoin-led debit card?
Compliance is built into the product’s architecture, not bolted on afterwards. Settlement is handled by Visa and StraitsX, the latter of which is a locally regulated entity, ensuring that every stablecoin-to-fiat conversion meets requirements.
Could you share any upcoming innovations or features planned for OKX Card to improve the customer experience?
We’re not in a position to share specific roadmap details at this stage, but our direction is clear: we want to expand the utility of OKX Pay and OKX Card over time, both in terms of the stablecoins supported and the financial capabilities accessible through the wallet. Payments are the starting point. The longer-term vision is a self-custodial platform where customers can hold, spend, and put their digital assets to work — all within a compliant, user-friendly experience.
Future of the Payments: What Lies Ahead?
The OKX Card is not just a crypto debit card, it represents a deliberate and well-architected step toward making stablecoins as a genuine and valid everyday currency. With self-custody at its core, regulatory compliance baked into its infrastructure, and the global merchant network of Visa as its backbone, OKX is set to play a long game.
Gracie Lin made it clear that payments are only the beginning. The broader ambition is a self-custodial financial platform where users can hold, spend, and grow their digital assets without compromising on compliance and convenience.
