OKX to Launch OKX Pay Wallet and Financial Card: The Long Journey Towards Compliance from Wallets and DEX Aggregators to Payments
OKX Announces Launch of New Product: OKX Pay Wallet
Cryptocurrency exchange OKX announced this morning the upcoming launch of its new product, OKX Pay Wallet, which is expected to officially go live next week. A payment-based financial card is also in the works. This multi-chain supported digital wallet not only puts pressure on competitors like MetaMask and Phantom but also showcases OKX’s ambition and vision to promote the mainstream adoption of cryptocurrencies.
OKX Pay Wallet Unveiled: Multi-Chain Support as a Highlight
OKX CEO ### Star (@star_okx) revealed in a tweet this morning that OKX Pay Wallet will debut next week. The image shows that the wallet supports stablecoins, multi-chain transactions, and P2P payments, while its simple and intuitive interface design lowers the barrier to use, allowing newcomers to easily get started.
We will launch OKX Pay Wallet next week. It’s a road to billion users crypto adoption! Looking forward to try it!@[email protected]/zRpa1XzHqC
— Star (@star_okx)April 25, 2025
OKX Pay Wallet continues the core philosophy of OKX Wallet, emphasizing self-custody, meaning users have complete control over their private keys and assets, enhancing security and control. The wallet supports over 130 blockchains and is capable of storing cryptocurrencies, NFTs, and other digital assets, as well as creating multiple sub-accounts for flexible fund management.
Social and Monitoring Features: Cryptocurrency Gifts, Smart Money Signals
Notably, OKX Pay Wallet features unique social and monitoring functionalities, with the most talked-about being “cryptocurrency gifts” and “smart money signals”:
Users can send digital currency in chat groups and receive feedback, creating application scenarios closely tied to daily life. The wallet also introduces smart money signals and in-depth token analysis to help users understand market trends.
Additionally, in response to a comment asking, “Will there be a financial card?” Star also replied: “Yes,” sparking anticipation for the upcoming “OKX Financial Card,” although it remains unclear whether it will be issued as a debit card or a credit card.
Regulatory Storm Continues: Impact of DEX Function Suspension on OKX
Recent changes to OKX’s wallet services are closely related to the regulatory pressures stemming from the European Union’s Markets in Crypto-Assets (MiCA) regulation. The DEX functionalities of the wallet have been suspended for over a month, including Swap and Bridge services, and have yet to resume, leading to numerous user complaints.
(OKX Web3 Suspends DEX Aggregator Services: Actively Responding to Hacker Attacks and EU MiCA Regulatory Pressures)
As noted in previous reports by market observer AB Kuai.Dong, the OKX incident has prompted many exchanges to adjust their Web3 businesses, with one solution being “splitting the wallet into a standalone app, completely separating it from the exchange.”
OKX’s Transformation Strategy: Pioneering New Paths, Entering Payments
Recently, OKX’s tweets have emphasized slogans like “collect, store, manage,” attempting to strengthen the concept of “self-custody,” seemingly aiming to reduce dependence on high-compliance-cost DEX functionalities. Despite having regulatory licenses in multiple jurisdictions, under EU compliance pressures, it is understandable that OKX Wallet chooses strategic transformation, moving from a DEX aggregator to the payment sector.
Now, OKX Pay Wallet represents a significant step in OKX’s global expansion strategy. Its user-friendly interface, integrated features, and security mechanisms are expected to attract more newcomers and mainstream users. However, in a challenging regulatory environment, how OKX balances innovation and compliance while continuously improving service experience is one of the major challenges ahead.
Risk Warning
Cryptocurrency investment carries a high risk, and prices may fluctuate dramatically, potentially resulting in a total loss of principal. Please carefully assess the risks.
