OKX, one of the world’s biggest cryptocurrency exchanges, said on Tuesday it had rolled out a service letting customers pay GrabPay merchants in stablecoins. The feature, called OKX Pay, allows users to spend either USDC or USDT, two of the largest dollar-backed stablecoins. Payments are first converted into XSGD, a Singapore-dollar stablecoin issued by fintech StraitsX, before merchants receive funds in local currency. The design means GrabPay merchants are insulated from crypto’s volatility and see their settlement in Singapore dollars. Stablecoins — digital tokens pegged to fiat currencies — have drawn interest worldwide for their ability to move money cheaply and quickly.