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Oobit Expands Tether-Backed Payment Services into United States

Oobit, supported by Tether, enters all 50 U.S. states with Bakkt integration, enabling instant fiat settlement via Visa for crypto payments through non-custodial wallets.

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Summary

Oobit, a Tether-backed crypto payments platform, has expanded into the U.S. market with support from Bakkt, covering all 50 states. Users can make instant payments using non-custodial wallets, while merchants receive immediate fiat settlement through Visa’s network. This initiative marks Oobit’s largest expansion since securing $25 million in Series A funding in 2024.

Terms & Concepts
  • Tether: A widely-used stablecoin pegged to the U.S. dollar, utilized for digital payments and trading.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, often pegged to traditional currencies like the U.S. dollar.
  • Non-custodial Wallet: A wallet where users control their private keys and funds without relying on a third party.