Oobit, the mobile payment project strongly backed by Tether (the issuer of the USDT stablecoin), has announced a major operational expansion into the United States. This launch allows Oobit to operate across all 50 U.S. states, facilitated by a strategic partnership with Bakkt, which serves as Oobit's compliance and licensing partner, ensuring adherence to the strict regulatory landscape in the U.S.
Oobit offers an innovative payment solution that enables users to directly connect their preferred non-custodial wallets—including major platforms like Base, Binance, MetaMusk, Phantom, and Trust Wallet. The primary utility of Oobit is to allow users to spend their held crypto assets through "Tap-to-Pay" technology at physical retail locations.
Seamless and Instant Crypto-to-Fiat Conversion: The most compelling feature of the Oobit service is its handling of the conversion process. When a user taps their device to pay using crypto (such as BTC, ETH, or USDT), the merchant instantly receives the final settlement in Fiat currency (U.S. Dollars) via the Visa payment rail. This mechanism is critical as it shields merchants from crypto volatility and compliance burdens, making acceptance simple and universal wherever Visa is accepted. This achievement marks a significant milestone in integrating crypto into daily commerce by blending the convenience of digital assets with the universality of traditional financial infrastructure.
Strategic Implications of the U.S. Launch:
Stablecoin Utility Focus: The backing by Tether indicates a primary focus on leveraging Stablecoins—assets designed for low volatility—as the optimal medium for everyday transactions, addressing the consumer need for price predictability.
Regulatory Credibility: The partnership with Bakkt, a U.S.-regulated entity specializing in crypto and fiat services, allows Oobit to operate safely within the country's stringent legal environment, drastically increasing consumer and merchant trust.
Self-Sovereignty and Real-World Use: By linking directly to non-custodial wallets, Oobit promotes self-sovereignty by ensuring users retain complete control of their funds until the point of sale, bridging the gap between full ownership of digital assets and practical, real-world utility.
This expansion signals that the widespread adoption of crypto as a payment method is rapidly maturing, driven by the necessary capital and regulatory compliance infrastructure provided by established financial institutions. This paves the way for cryptocurrencies to become a seamless, everyday form of payment for millions of consumers.
