Cryptocurrency exchange OKX is launching a payment card in Europe that will allow users to spend stablecoins at merchants that accept Mastercard cards.
The OKX card is issued through the company’s electronic money institution (EMI) partner Monavate, OKX said Wednesday in an announcement shared with Cointelegraph.
At launch, the card supports spending in stablecoins, including USDC (USDC) from Circle and Global Dollar (USDG) from Paxos.
The move comes as crypto firms seek to expand the apply of stablecoins for everyday payments under Europe’s evolving cryptocurrency regulatory framework.
“With OKX Card, we are making it easier for everyone in Europe to use cryptocurrencies for real-world purchases,” said OKX Europe CEO Erald Ghoos.
How the card is regulated in Europe
OKX is a regulated Crypto Asset Service Provider (CASP) in the European Union under the Markets in Cryptocurrency Regulations (MiCA). The OKX card itself is regulated by Monavate, the EMI that issues and operates the card on the global Mastercard network.
Monavate, based in the United Kingdom, operates in the European Economic Area under strict anti-money laundering (AML) and Know Your Customer (KYC) standards, an OKX spokesperson told Cointelegraph.
Monavate is to be acquired by standalone wallet provider Exodus under a definitive agreement announced in November 2025 as part of the acquisition of parent company W3C Corp and affiliate Baanx.
The card is only available after mandatory KYC checks
While the OKX Card is powered by OKX Pay, a standalone wallet accessible through the OKX app that can be loaded directly from the exchange, the card offer is only available to verified OKX users.
According to the company, all users must undergo a tough KYC and AML process in line with regulatory requirements under MiCA and applicable EU anti-money laundering directives and regulations.
Related: Visa-linked stablecoin platform Rain raises $250 million at a valuation of $1.95 billion
“Fundamentally, most people have three financial needs: to pay and get paid, to accumulate wealth and to access credit. OKX Card provides a practical tool to meet the first of these,” OKX Europe CEO Ghoos told Cointelegraph, adding:
“While the ability to freely make payments is core to the founding vision of cryptocurrencies, it can be a technical challenge for the average user […] With OKX Card, our users can realize this vision and transact freely and securely in real life […] while maintaining complete control over its assets.”
The launch of the OKX crypto card in the EU marked another milestone in the growing adoption of cryptocurrency-linked payments, as crypto cards issued by Visa were reported to have seen a 525% enhance in total net spend in 2025.
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