Cryptocurrency Exchange OKX Introduces Stablecoin-Powered Payment Card for European Market Through Monavate Partnership
The newly launched card enables USDC and USDG transactions, operates through Monavate's regulated infrastructure on the Mastercard payment network, and is accessible to identity-verified users across the European Union.
Digital asset exchange OKX has introduced a new payment card for the European market, enabling customers to utilize stablecoins for purchases at any retailer that accepts Mastercard.
According to an announcement OKX shared with Cointelegraph on Wednesday, the OKX Card has been issued in partnership with Monavate, the company's Electronic Money Institution (EMI) collaborator.
Initially, the card enables transactions using stablecoins such as Circle's USDC (USDC) as well as the Global Dollar (USDG) issued by Paxos.
This development arrives as digital currency firms work to broaden stablecoin usage for routine transactions within Europe's developing cryptocurrency regulatory landscape.
"With OKX Card, we're making it simple for anyone in Europe to use crypto for real-world purchases," OKX Europe CEO Erald Ghoos said.
How the card is regulated in Europe
Within the European Union, OKX holds the status of a regulated crypto-asset service provider (CASP) operating under the Markets in Crypto-Assets Regulation (MiCA) framework. The card's regulatory compliance is managed through Monavate, which serves as the EMI responsible for issuing the card and facilitating its operation across Mastercard's worldwide network.
Based in the United Kingdom, Monavate conducts operations throughout the European Economic Area while adhering to stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory standards, an OKX spokesperson explained to Cointelegraph.
Self-custodial wallet provider Exodus is slated to acquire Monavate under a binding agreement that was announced in November 2025, as a component of its acquisition of parent entity W3C Corp along with associated company Baanx.
The card is only available after mandatory KYC checks
Although the OKX Card is built upon OKX Pay, a self-custodial wallet that users can access via the OKX application and fund directly from the exchange platform, access to the card product is restricted to users who have completed verification.
Every user is required to complete a comprehensive KYC and AML verification process to ensure compliance with regulatory requirements under MiCA as well as relevant EU AML Directives and Regulations, according to the company's statement.
"Fundamentally, most people have three financial needs: to pay and be paid, to accrue wealth and to access credit. OKX Card provides a practical tool to meet the first of those," OKX Europe CEO Ghoos told Cointelegraph, adding:
"While the ability to freely make payments is core to the founding vision of crypto, for the average user this can be technically challenging [...] With OKX Card our users can realise this vision and transact freely and securely in real life […] while staying in total control of their assets."
The introduction of OKX's cryptocurrency card within the EU represents yet another significant development in the expanding acceptance of crypto-connected payment solutions, particularly as Visa-issued crypto cards allegedly experienced a 525% surge in total net spending throughout 2025.