Oobit Closes $25 Million Series A Funding Round
Oobit, a mobile crypto payments app, has successfully closed its Series A funding round, amassing $25 million. This significant financial injection is spearheaded by Tether, the world’s largest stablecoin issuer by market cap, alongside notable contributions from CMCC Global’s Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko. This round of funding marks a pivotal moment in Oobit’s journey, pushing the total capital raised by the company to $33 million, when considering its previous $8 million seed round in December 2020.
Revolutionizing Crypto Transactions
Oobit aims to revolutionize the way crypto token holders engage in transactions, facilitating purchases at over 100 million retailers worldwide that accept Visa or Mastercard, effectively as if using cash. The app’s underlying technology ensures merchants are paid in fiat currency, fostering the adoption of crypto payments. Future updates are poised to further streamline this process, ensuring even smoother transactions between cryptocurrencies and fiat currencies.
Tether’s Commitment to Crypto Adoption
This Series A funding underscores Tether’s commitment to advancing the widespread adoption of cryptocurrencies, aligning with its vision of a financially inclusive world. Oobit, leveraging Tether’s investment, strives to dismantle barriers and enable frictionless transactions for crypto holders globally, further supported by its functionality across both the Apple App Store and Google Play.
Bridging Traditional Financial Systems with Blockchain Technology
Oobit’s innovative “tap-to-pay” feature exemplifies the company’s commitment to integrating digital currencies into everyday transactions. This feature, alongside the app’s compatibility with leading cryptocurrencies such as Bitcoin, Ethereum, XRP, and naturally Tether, positions Oobit at the forefront of bridging the gap between traditional financial systems and the burgeoning world of blockchain technology.
Expanding Global Footprint and Driving Innovation
As Oobit continues to expand its global footprint, this funding round not only highlights the growing confidence in crypto payments’ potential but also paves the way for further innovation in the seamless convergence of digital and traditional financial landscapes.
Hot Take: Oobit Secures $25 Million Series A Funding to Drive Crypto Adoption
Oobit, a mobile crypto payments app, has closed a $25 million Series A funding round led by Tether, CMCC Global, Anatoly Yakovenko, and 468 Capital. This funding marks a significant milestone for Oobit, bringing its total capital raised to $33 million. With its innovative features and compatibility with leading cryptocurrencies, Oobit aims to revolutionize crypto transactions and bridge the gap between traditional financial systems and blockchain technology. The support from Tether demonstrates a commitment to advancing crypto adoption. As Oobit expands globally, this funding round sets the stage for further innovation in the convergence of digital and traditional finance.
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