Crypto Payment Processor Oobit Secures Fresh Funds From Tether and Solana!

Stablecoin issuer Tether, the largest company in the crypto industry, has announced its investment in Singapore-based crypto payment processor Oobit, a mobile payment application. The Series A funding round has concluded with $25 million raised for Oobit‘s ongoing development, supporting its goal of mainstream cryptocurrency adoption. This aligns with Tether’s vision of a financially inclusive world.

Led by the investment arm of Tether and supported by other major investors like CMCC Global‘s Titan Fund, 468 Capital, and Solana, this funding round not only underscores the growing investor confidence in cryptocurrency payment solutions but also marks a pivotal step in Oobit‘s strategic expansion.

Read FinTelegram reports about Oobit here.

Oobit’s mobile payment application offers cryptocurrency users the ability to Tap & Pay at over 100 million retail locations globally that accept Visa and Mastercard. This integration streamlines the process for merchants to accept digital currencies, offering a straightforward method for consumers to spend their cryptocurrencies.

Paolo Ardoino, Tether‘s CEO, emphasized the investment’s significance, stating, “Tether’s investment in Oobit reflects our deep commitment to introducing new users to the crypto space. Our support is rooted in a shared goal to promote the global uptake of cryptocurrencies. We view Oobit as a pivotal force in removing obstacles and enabling smooth transactions for cryptocurrency users across the globe.“

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