OKX Card review
- Deposit fee
- Free
- Yield rate
- N/A
Our verdict
The OKX Card is rolling out in Australia with up to 10% USDG cashback and no OKX transaction fees for eligible Australian users.
OKX Card has begun rolling out in Australia. It's a virtual Mastercard that lets you spend directly from your OKX Pay balance, funded with USDT, USDC or OKX's own stablecoin, USDG. The card offers a cashback of up to 10% in USDG on eligible purchases, but this is based on your VIP tier, so most users will get a lower percentage back. The card also has no OKX transaction fees.
Pros
-
No OKX transaction fees
-
Cashback up to 10% in USDG
-
Multiple funding currencies
Cons
-
Cashback only applies to USDG-funded spend
-
Mastercard's FX rate and OKX's USD-to-stablecoin conversion spread apply when converting currencies
-
No physical card option
Details
OKX Card
| Product Name | OKX Card |
| Deposit fee | Free |
| Funding methods | Cryptocurrency |
| Go to site |
How does the OKX Card work?
The OKX Card is a virtual Mastercard linked to your OKX Pay balance inside the OKX app. You top up that balance using USDG, USDT or USDC, and when you spend, the balance is drawn down and converted to the merchant's local currency wherever Mastercard is accepted (subject to merchant acceptance).
OKX charges no separate transaction fee, but Mastercard's standard FX rate and spread apply to currency conversions.
Main features
- Virtual Mastercard. This is linked directly to your OKX Pay balance.
- Multi-stablecoin funding. Top up your balance with USDG, USDT or USDC.
- Cashback up to 10% in USDG. Available on eligible purchases funded specifically with USDG.
- No OKX transaction fees. OKX doesn't add its own fee on top of Mastercard's standard conversion costs.
Cashback program
OKX advertises up to 10% cashback in USDG for eligible USDG-funded purchases, but the amount you get and the caps for the cashback depend on your VIP tier.
Is the OKX Card safe?
OKX Australia Pty Ltd is registered with AUSTRAC as a Digital Currency Exchange, and the OKX Pay Wallet that underlies the card is issued by Bano Pty Ltd under an Australian Financial Services Licence (AFSL 536984), with OKX Australia acting as its corporate authorised representative.
As with any crypto product, cashback paid in USDG carries stablecoin peg risk, and cardholders should read the PDS and FSG before signing up once access opens.
How to join
- Go to the OKX Pay section of the OKX Australia website or app.
- If you're not already an eligible existing user, join the waitlist to be notified when broader access opens.
- Once approved, fund your OKX Pay balance with USDG, USDT or USDC and use the virtual Mastercard for eligible spend.
Sources
Your reviews
Richard Finder
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