OKX Launches Stablecoin App Offering Up to 10% APY on $USDG

OKX has launched OKX Money, a new stablecoin savings and payments app targeting users across emerging markets.
The product offers yields of up to 10% APY on $USDG.
OKX is positioning the app as a combination of stablecoin savings and everyday payments, giving users a way to hold dollar-linked assets while earning yield.
The headline rate is significantly higher than what many traditional savings products offer.
However, the source of the yield has not yet been disclosed.
That makes the underlying economics one of the most important details to watch.
Stablecoin yields can come from lending, market-making, incentives, tokenized Treasury exposure or promotional subsidies, each with very different risk profiles.
For users, the key question is whether the 10% APY is sustainable and what risks sit behind the return.