🧐In-Depth Research｜Payment × Social × Wallet: Is OKX Reconstructing the Infrastructure of the Crypto World?
I just had some time to look at the test model myself;
From the screenshots shared by Lao Xu, the core functions of OKX Pay are already very clear:
The images released by @star_okx clearly show that OKX is not just developing Payfi functions, but is building a super entrance for on-chain social + payment.
Most people do not understand the essence of OKX Pay.
This is not an extension of a payment product, but an attempt by OKX to integrate on-chain payment, social interaction, and asset management.
1️⃣ Highlights of Achieved Functions:
1) WeChat Pay-like experience: balance interface + transaction records + group red envelopes + contact payments, an extremely simplified process.
On-chain assets can be used for payment: USDT (on X Layer) can be used directly for payments without the need to withdraw.
2) Distributing red envelopes / group token distribution: The "Best wishes!" in the screenshot is the red envelope function, which, combined with group chat, has strong "social payment" potential.
3) Flexible transfer methods: Supports transferring to contacts/address/trading accounts, no Gas fees, suitable for small and frequent transactions.
2️⃣ Possible Future Directions for OKX Pay:
- Payment card or physical card;
It is very likely to combine virtual cards / co-branded physical cards for daily consumption, similar to Binance Card, http://Crypto.com; if it involves VISA/MasterCard channels, it will have strong competitiveness in overseas markets.
- Targeting Southeast Asia & emerging market users;
From the language of the user interface and lightweight design, OKX Pay is more suitable for promotion in less financially developed areas, such as the Philippines, India, Nigeria, Latin America, etc.
Especially tailored for OTC users, migrant workers' cross-border remittances, and small daily payments.
3️⃣ Will China Open Up?
Personally, I think that due to legal regulations, it is unlikely to open up domestic user functions on a large scale; existing crypto users should also have a high threshold;
However: it could be opened in a gray area to certain wallet addresses (for example, users registered with overseas phone numbers and using VPNs)
Or as an internal testing invitation system, promoting Web3 community dissemination through group token distribution.
4️⃣ My Judgment:
What OKX Pay is doing is: building a "Web3 Payment WeChat" ——
Completing the collection, transfer, red envelopes, and chat of crypto assets in a closed loop within the wallet, and possibly combining with physical payment cards to go global.
This will be a new battlefield that breaks through the ceiling of the track; unlike traditional CEX selling tokens or DeFi Dapps, it directly cuts into daily use scenarios and competes with real currency.
So we can see that OKX seems to be "competing in exchanges" in recent years, but if you place it within a larger Web3 narrative framework, they are quietly building a fully closed-loop Web3 operating system. I feel that their goal is —
To move from "exchange" to "Web3 Universal Finance and Identity Entrance."
Transaction → Wallet → Payment → Application Ecosystem → Identity System, they are using the most product-oriented, engineering mindset to gradually "stack" a super entrance for the decentralized era.
This goal differs from other exchanges in that the target users are not Web3 veterans, but the future billion-level "light users."
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
