Tether Invests in Oobit to Drive Crypto Adoption
Tether, the stablecoin issuer, has announced its investment in Oobit, a mobile payment application. The successful completion of Oobit’s Series A funding round raised $25 million, which will support the development of the platform and its mission to facilitate mainstream adoption of cryptocurrencies.
Enabling Crypto Payments at Millions of Retailers
Oobit’s mobile payment app allows cryptocurrency holders to “Tap & Pay” at over 100 million retailers globally, including those that accept Visa and Mastercard. This integration is expected to encourage merchants to accept digital assets as payment options while providing customers with different ways to use their cryptocurrencies for transactions.
Future updates to the Oobit app will enable customers to make crypto payments while ensuring that merchants seamlessly receive fiat currency in return, similar to paying with a credit card.
Tether Leads Funding Round
Tether’s investment arm led the Series A funding round for Oobit, attracting significant participation from key industry leaders and strategic investors. Notable contributors include CMCC Global’s Titan Fund, 468 Capital, and Anatoly Yakovenko, Co-founder of Solana (SOL).
Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to welcoming new users into the cryptocurrency ecosystem through strategic investments like Oobit. Ardoino stated that Oobit serves as a catalyst for breaking down barriers and facilitating frictionless transactions for crypto holders worldwide.
Tether Launches “Tether Edu” for Digital Education
Tether has also launched “Tether Edu,” an educational initiative aimed at improving accessibility to digital skills development and promoting self-empowerment while fostering widespread acceptance of cryptocurrencies.
Tether Edu will offer a range of educational opportunities, including hybrid courses, tailored workshops, and masterclass programs covering blockchain education and other digital domains like design, artificial intelligence, and coding.
Global Reach for Tether Edu
Tether Edu’s initiatives will span markets worldwide, with a focus on emerging economies in Africa, Latin America, the Middle East, Europe, the Commonwealth of Independent States, and Asia.
Paolo Ardoino expressed Tether’s dedication to driving global digital education, particularly in empowering emerging markets. He believes that financial tools like USDT are catalysts capable of rewriting economic history and that education is crucial for fostering economic prosperity and sustainable development.
Hot Take: Tether’s Investments and Educational Initiatives
Tether’s investment in Oobit demonstrates its commitment to driving mainstream adoption of cryptocurrencies by enabling easy crypto payments at millions of retailers globally. This move has the potential to bridge the gap between traditional payment methods and digital assets.
Additionally, Tether’s launch of “Tether Edu” showcases its dedication to promoting digital education and accessibility to digital skills development. By focusing on emerging markets, Tether aims to empower individuals in these regions and foster economic growth through increased knowledge and understanding of cryptocurrencies.
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