OKX Rolls Out Zero-Fee Stablecoin Card Under MiCA Rules in Europe

The new OKX Card lets European users spend stablecoins at any Mastercard merchant with no transaction or foreign exchange fees.

Key Takeaways

• OKX launched a virtual debit card for European users, allowing stablecoin spending at over 150 million Mastercard-accepting locations.
• The card operates under the EU’s MiCA framework, issued through Monavate, a regulated Electronic Money Institution.
• Stablecoins like USDC and USDG remain in self-custody and are converted to euros at the time of purchase with a 0.4% spread.
• No transaction or FX fees apply, and users can earn up to 20% in crypto rewards during the launch promotion.

What Happened?

OKX has entered Europe’s digital payments market with a crypto debit card that allows users to spend stablecoins like USDC and USDG directly at checkout. The card integrates with Apple Pay and Google Pay and is issued by Monavate, ensuring compliance with the European Union’s strict crypto regulations under the MiCA framework.

OKX Targets Real-World Crypto Spending

OKX’s new offering bridges the gap between digital assets and traditional finance by enabling seamless stablecoin transactions for everyday purchases. The OKX Card is fully integrated with OKX Pay, a self-custody wallet that gives users full control of their funds.

• Users can convert euros into stablecoins within the OKX Pay app and spend them using the card.
• At checkout, stablecoins are instantly converted to euros, avoiding the need to preload balances or manually exchange assets.
• The system applies a low 0.4% market spread with no added fees for transactions or currency exchange.

According to OKX Europe CEO Erald Ghoos, the company aims to make crypto practical for everyday use. Ghoos said:

Compliant Under MiCA and Backed by Monavate

The card’s issuance through Monavate ensures full compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, which came into full effect in December 2024. MiCA requires crypto service providers to meet high standards for licensing, reserves, and consumer protection.

• Cardholders must complete rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
• The card and app are available to verified users in the European Economic Area (EEA).
• Monavate’s EMI license enables the card to function legally and securely under EU financial law.

Christian Rau, Mastercard’s Senior Vice President of Global Digital Commercialization, praised the initiative:

Promotional Cashback and App Features

OKX is offering an aggressive rewards program to drive adoption. Users can earn:

• Up to 20% cashback in crypto during the card’s first 30 days
• Regular rewards of up to 15% on eligible purchases
• VIP perks for high-usage customers

The OKX Pay wallet app also enables users to interact with DeFi and real-world asset (RWA) opportunities where permitted under local laws. These features aim to position the card and app as more than just payment tools, but as gateways into the broader Web3 economy.

Stablecoins Rising in Popularity

OKX’s move comes at a time when crypto-linked card usage is accelerating. According to Dune Analytics, Visa crypto cards, including those from EtherFi and Cypher, saw 525% growth in spending during 2025, increasing from $14.6 million in January to $91.3 million by year-end. OKX cited internal data showing crypto card transactions in Europe have surged 22-fold since late 2024, now nearing 60,000 per day.

The card’s zero-fee structure and real-time stablecoin conversion could offer tangible advantages over traditional digital payment options, which often involve hidden fees and slow processing across borders.

CoinLaw’s Takeaway

In my experience watching crypto adoption, this is one of the most practical tools yet for bringing stablecoins into everyday life. I found the self-custody model especially important because it puts users, not institutions, in control of their funds. What stands out most is the combination of zero fees, instant stablecoin conversion, and full MiCA compliance. This is a rare case where the tech, the incentives, and the regulations are all aligned. If OKX keeps improving the rewards and keeps fees off the table, they could truly shift how crypto fits into everyday spending.

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