OKX crypto exchange presented OKX Pay payment platform, which aims to simplify crypto transactions. This is reported by Incrypted journalists who attended the TOKEN2049 conference in Dubai.

According to the company’s presentation, the solution will be available in the OKX app. So far, we are talking only about some regions. The global launch of the platform is scheduled for the coming months.

The release of OKX Pay, as well as further development of the platform, are part of the company’s global mission to attract the next billion users to the cryptocurrency sphere.

OKX Pay offers users the ability to make instant, secure and convenient payments in crypto assets, the company emphasized. The key feature of the service is self-storage.

OKX said that the service was created taking into account regulatory requirements and security standards in the industry. It is based on the X Layer infrastructure, a second layer blockchain based on ZK, developed using Polygon’s CDK.

The payment service, wallet and exchange form a seamless ecosystem:

Other features of the platform include the following:

• convenient self-storage, where one part of the key is stored in the wallet with the access code and the other in OKX. This makes it easy and simple to restore access in case of its loss;
• almost instant and convenient transfer of funds. However, at the initial stage, the solution will only support USDC and USDT stablecoins;
• «quiet rewards». This is an opportunity to earn income from low-risk deposits in onchain protocols.

«In the future, all financial companies will offer some level of self-storage of funds in a compliant manner, including payments and remittances. Together with OKX Pay and X Layer, we are building the infrastructure foundation for a future where the number of cryptocurrency and Web3 users will increase by another billion», — said OKX CEO Star Xu.

Eventually, the company plans to integrate OKX Pay into the systems of payment service providers, including counterparties such as Mastercard and Stripe, making the platform easier to use.