Share this article
Crypto Payments App Oobit Raises $25M in Series A Funding Round Led by Tether
The round also included participation from Anatoly Yakovenko, the co-founder of Solana.
Feb 5, 2024, 2:00 p.m.
Make us preferred on Google
Mobile payments app Oobit raised $25 million in a Series A funding round, the company said Monday.
The round was led by the investment arm of Tether, CMCC Global’s Titan Fund, 468 Capital and Solana co-founder Anatoly Yakovenko. A spokeswoman for the Singapore-based company declined to say how much the investment valued the company.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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 firm is planning to open up the capability to third-party wallets, which will transition Oobit into a non-custodial crypto payments app, it said.
"We have several partnerships in the pipeline that will be announced in the coming months," the spokeswoman said in an email.
The company joins the growing ranks of crypto firms working with traditional finance (TradFi) companies to offer consumers more efficient ways of using their crypto holdings to pay for goods. Last week, Web3 payments infrastructure provider Transack said it joined Visa Direct, making it easier for its users to convert their crypto holdings into fiat currency.
"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." Amram Adar, Oobit’s co-founder and CEO, said in a statement.
Read more: Oobit Co-Founder Aims to ‘Bridge the Gap Between Web3 and DeFi’ to Traditional Payments
Lebih untuk Anda
Lebih untuk Anda
Wall Street giant Apollo deepens crypto push with Morpho token deal
The asset manager overseeing more than $900 billion assets may buy up to 90 million MORPHO tokens as part of a partnership to support DeFi credit market, it said.
Yang perlu diketahui:
- Apollo Global Management struck a cooperation agreement to support lending markets built on Morpho’s onchain protocol.
- The deal allows Apollo to acquire up to 90 million MORPHO tokens over 48 months.
- The move follows BlackRock's push into decentralized finance earlier this week, listing its tokenized fund and buying tokens of decentralized exchange Uniswap.
Top Stories
