Oobit to expand crypto payments app’s global reach with US$25 million boost
OOBIT, the mobile crypto payment app, is looking to take its platform to more mainstream users. The company, based out of Singapore, said it has secured US$25 million in series A funding to help it expand across Asia Pacific and Latin America, as well as to the United Arab Emirates.
Investors in the round included crypto heavy-hitters such as Solana Labs co-founder Anatoly Yakovenko and stablecoin issuer Tether Limited, as well as 468 Capital and CMCC Global’s Titan Fund.
Oobit aims to streamline crypto payments. With its “tap and pay” feature, users can make payments using crypto at over 100 million merchants worldwide, mirroring the simplicity of Visa and Mastercard’s contactless transactions.
The startup plans to allow payments to and from external e-wallets, be it crypto or non-crypto, to bridge Web3 and real-world spending.
Additionally, Oobit lets its users to purchase Bitcoin, Ethereum, and over 35 other popular cryptocurrencies directly on its app.
Oobit’s goal is to enable “direct payments while ensuring that users retain control over their funds, aligning with Oobit’s belief and vision for a user-centric financial future”, said co-founder and CEO Amram Adar. TECH IN ASIA
