Cryptocurrency exchange Okex is rolling out a payment card in Europe, allowing users to spend stablecoins at merchants that accept MasterCard globally.

The OKX card is issued by Monawatt, the company’s Electronic Money Institution (EMI) partner, OKX said in a joint announcement with Quantalgraph on Wednesday.

At launch, the card supports spending in stablecoins including Circle’s USDC (USDC) and Paxos-issued Global Dollars (USDG).

The move comes as crypto companies look to expand the use of stablecoins for everyday payments under Europe’s evolving crypto regulatory framework.

“With the OKX card, we’re making it easier for everyone in Europe to use crypto for real-world purchases,” said OKX Europe CEO Erld Ghose.

How the card is regulated in Europe

OKX is a regulated Crypto Asset Service Provider (CASP) in the European Union under the Markets in Crypto Assets Regulation (MICA) framework in the European Union. The OKX Card itself is regulated by Monavet, the EMI that issues the card and operates it on MasterCard’s global network.

Headquartered in the UK, Monavet operates in the European Economic Area in compliance with strict anti-money laundering (AML) and know-your-customer (KYC) standards, an OKX spokesperson told QuintalGraph.

Monavet is to be acquired by self-denominated wallet provider Exodus under a definitive agreement announced In November 2025, as part of the acquisition of its parent company W3C Corporation and its affiliated firm Banks.

The card is available only after mandatory KYC check

Although the OKX card is based on OKX Pay, a self-funding wallet accessible through the OKX app that can be uploaded directly from the exchange, the card offer is only available to verified OKX users.

All our customers have to pass a strict KYC and AML process in compliance with our regulatory obligations under MICA and applicable EU AML directives and regulations, the company said.

Related: Visa-affiliated stablecoin platform Rain raises $250 million at $1.95B valuation

“Essentially, most people have three financial needs: to pay and to pay to acquire wealth and access credit. The OKX card provides a practical tool to meet the first of these,” OKX Europe CEO Ghose told Cointelegraph, adding.

“Although the ability to pay freely is central to the founding vision of crypto, it can be technically challenging for the average user. […] With Okex Card our customers can realize this vision and transact freely and securely in real life. […] Being in full control of your assets.

Okax’s crypto card launch in the European Union marks another milestone in the growing adoption of crypto-linked payments, as Visa-issued crypto cards reportedly see a 525% increase in total net spending in 2025.