BlockBeats News, April 28th, according to official sources, OKX has announced the launch of a new product for its global user base of over 100 million — the OKX Pay V1 version encrypted payment application. OKX Pay will be integrated as a sub-app within the existing OKX App, first launching in select markets and planning a global rollout in the coming months. Its core innovations include:

1. Simplified self-custody experience: By splitting the private key in half, with one half held by the user in the Passkey wallet and the other half by OKX custody, it achieves a secure and convenient wallet management experience. It also supports email retrieval through zero-knowledge (ZK) technology to reduce the risk of loss.

2. Easy encrypted payments: Supports transfer via messaging, initially supporting USDT, USDC, with zero fees, instant settlement, and no limits (in compliance with regulatory requirements).

3. Silent income feature: Deposited funds will automatically participate in low-risk on-chain protocols to earn rewards without the need for manual staking, and funds can be withdrawn at any time.

On the security and compliance front, OKX Pay incorporates KYC, AML, and multi-signature controls to ensure the security of user funds and prevent OKX from operating user assets without authorization.

On the technical support side, OKX Pay is built on the ZK Layer2 blockchain — X Layer, ensuring zero transaction costs, and plans to integrate payment service providers such as Mastercard, Stripe, and others in the future to facilitate merchant-side payments.