Tether Invests $25 Million in Oobit to Boost Crypto Accessibility
Tether, the leading stablecoin provider, has announced a $25 million investment in Oobit, a mobile payment platform. This partnership aims to make cryptocurrency more accessible for everyday commerce.
Oobit’s Mobile App Revolutionizes Crypto Transactions
Oobit’s mobile application aims to change how cryptocurrency holders interact with physical retailers. By connecting with its native blockchain wallet, the app allows users to make payments in Tether, Bitcoin, and other digital currencies at over 100 million retailers worldwide that accept Visa and Mastercard.
Tether’s Commitment to Expanding the Cryptocurrency Ecosystem
Tether’s newly appointed CEO, Paolo Ardoino, sees this series A investment as a testament to Tether’s dedication to introducing new users to the world of cryptocurrency.
Tether invests in Oobit.
Oobit’s mobile payment app empowers crypto holders to Tap & Pay at over 100 million retailers worldwide, accepting Visa and Mastercard.$USDt Real World Ecosystem is growing. https://t.co/umXSXNMUja
— Paolo Ardoino 🍐 (@paoloardoino) February 5, 2024
Tether’s Strong Start to 2024
Tether has been making strategic moves to expand its presence in the crypto industry. In addition to the investment in Oobit, the company recently launched Tether Edu, an educational program aimed at helping users develop web3 and blockchain skills. Tether has also reported impressive financial performance, with a $2.8 billion net profit in Q4 2023 and a record increase in USDT’s excess reserves.
Oobit App Available on Apple App Store and Google Play
The Oobit app can be downloaded from both the Apple App Store and Google Play. It offers users a seamless experience by connecting with their native blockchain wallet and enabling payments in various digital currencies.
Strategic Investments from Industry Players
The funding round for Oobit saw contributions from key industry players and strategic investors, including CMCC Global’s Titan Fund and 468 Capital.
Hot Take: Tether’s Investment in Oobit Accelerates Crypto Adoption
Tether’s $25 million investment in Oobit marks another step forward in making cryptocurrency more accessible for everyday transactions. By enabling users to make payments at over 100 million retailers worldwide, Oobit’s mobile app revolutionizes how crypto holders interact with physical retail. This partnership reflects Tether’s commitment to expanding the cryptocurrency ecosystem and introducing new users to this digital financial world. With Tether’s strong start to 2024, including the launch of Tether Edu and impressive financial performance, it is clear that the company is actively driving growth and innovation in the crypto space.
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