Cryptocurrency exchange OKX is rolling out a payment card in Europe that allows users to spend stablecoins at merchants accepting Mastercard.
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 stablecoins including Circle’s USDC and Paxos-issued Global Dollar. The rollout comes as crypto firms push to expand stablecoin use for everyday payments under Europe’s evolving regulatory framework.
“With the OKX Card, we’re making it simple for anyone in Europe to use crypto for real-world purchases,” said Erald Ghoos, CEO of OKX Europe.
How the card is regulated in Europe
OKX is authorized as a crypto-asset service provider (CASP) in the European Union under the Markets in Crypto-Assets Regulation (MiCA). The OKX Card itself is regulated through Monavate, the EMI that issues the card and operates it on Mastercard’s global network.
Headquartered in the United Kingdom, Monavate operates across the European Economic Area and complies with strict Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, an OKX spokesperson said.
Monavate is set to be acquired by self-custodial wallet provider Exodus under a definitive agreement announced in November 2025. The deal includes the acquisition of Monavate’s parent company, W3C Corp, as well as affiliated firm Baanx.
Card availability tied to KYC requirements
Although the OKX Card is built on OKX Pay—a self-custodial wallet accessible through the OKX app and funded directly from the exchange—the card itself is only available to verified OKX users.
The company said all applicants must complete a rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) process, in line with regulatory requirements under MiCA and applicable EU AML directives and regulations.
“Fundamentally, most people have three financial needs: to pay and be paid, to accrue wealth, and to access credit,” said OKX Europe CEO Erald Ghoos. “The OKX Card provides a practical tool to meet the first of those.”
“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.”
OKX’s launch of a crypto payment card in the EU marks another milestone in the expanding adoption of crypto-linked payments, as Visa-issued crypto cards reportedly recorded a 525% increase in total net spending in 2025.
