OKX has announced a 4.1% yield on its USDG stablecoin, which is issued by Paxos and backed 1:1 by U.S. dollars. This yield is offered in weekly payouts without any staking or lockup requirements. This initiative comes as stablecoins face increasing competition for market dominance, highlighting the importance of yield in attracting both retail and institutional users. OKX joined the Global Dollar Network in July, promoting USDG as a 'dollar that pays you back' for users looking to keep idle funds during quieter market periods. Stablecoins are considered essential in the cryptocurrency ecosystem, facilitating payments, cross-border transfers, and decentralized finance (DeFi) strategies. Their stability allows users to manage their exposure to more volatile cryptocurrencies without exiting the crypto ecosystem altogether.

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