OKX Launches Digital Dollar App in Brazil
New platform focuses on international payments and real-to-dollar conversions with a 0.49% fee.
The exchange OKX has announced the arrival of its OKX Money app in the Brazilian market. The service allows users to make deposits via Pix to convert Brazilian reais into digital dollars.
The new system enables users to utilize their balance for purchases both in Brazil and abroad. The company highlights that the conversion carries a 0.49% fee and the associated card promises to waive IOF taxes on transactions.
The launch took place during the OKX Day event in São Paulo. The company's strategy is to attract a broad audience that wants to hold dollars for daily use without the need to trade complex digital assets.
The platform operates independently from the main crypto exchange. OKX Brazil CEO Guilherme Sacamone stated that the interface was designed to resemble a traditional digital bank.
The separation of the apps aims to reduce confusion for beginners. The previous version integrated payments with Bitcoin trading tools and staking features that hindered navigation for those looking only for a dollar wallet.
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