Monday, 05 February, 2024

Crypto payments app Oobit raises $25M in Series A funding round

Mobile payments app Oobit announced that it has raised $25 million in a Series A funding round. The round was led by the investment arm of Tether, CMCC Global’s Titan Fund, 468 Capital and Solana co-founder Anatoly Yakovenko.

Consumers can use the Oobit app to pay for purchases using crypto, while merchants receive fiat currency. The tap-and-pay feature helps make crypto payments more accessible, as users can pay at any point of sale that accepts Visa (V) or MasterCard (MA) using funds from their Oobit wallet.

The company’s app is available in the Apple App Store and Google Play and users can connect it to digital assets using Oobit’s native digital wallet to allow payments using bitcoin, Tether or other tokens.

Amram Adar, co-founder and CEO of Oobit, said: “With the backing of industry leaders, this funding round marks a pivotal moment for Oobit, propelling us forward in our mission to allow a simple way to pay with digital assets anywhere. Enabling direct payments while ensuring that users retain control over their funds aligns with Oobit’s belief and vision for a user-centric financial future.”