Oobit
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| Industry | Financial technology |
|---|---|
| Founded | 2017 |
| Founders | Amram Adar, Aharon Miller |
| Headquarters | Singapore |
Key people | Amram Adar (CEO), Aharon Miller (COO) |
| Products | Payment application, DePay, corporate cards |
| Website | www |
Oobit is a financial technology company headquartered in Singapore that develops a mobile application for spending cryptocurrency at merchants over existing card payment networks.[1][2][3] The company was co-founded in 2017 by Amram Adar, its chief executive officer, and Aharon Miller, its chief operating officer.[1] In February 2024 it raised $25 million in a Series A funding round led by Tether.[4][5][1]
History
[edit]Founding and early product
[edit]Oobit was co-founded in 2017 by Amram Adar and Aharon Miller, and is headquartered in Singapore.[1] The company developed a mobile application intended to let cryptocurrency holders make everyday purchases without first converting their assets to fiat currency.[1][2]
In June 2023, FinTech Futures reported that Oobit had appointed Phillip Lord, an investment banker and blockchain investor, as its president, with responsibility for partnerships, business development, and marketing. At that time the company said it had more than 200,000 users.[6]
In September 2023, Oobit introduced a "Tap & Pay" feature that used near-field communication on mobile devices to make contactless payments at merchants accepting Visa and Mastercard, converting digital assets to fiat currency in real time.[2][3] International Business Magazine reported that the feature launched initially in Europe and the United Kingdom on Android and iOS, with planned expansion to Latin America, the United Arab Emirates, the Asia-Pacific region, Canada, and Australia.[2] Both International Business Magazine and The Paypers reported that the company intended to move to a non-custodial model in which users could connect external wallets rather than transferring funds to Oobit.[2][3]
Series A funding
[edit]In February 2024, the company raised $25 million in a Series A funding round led by Tether's investment arm. Participants included CMCC Global's Titan Fund, 468 Capital, and Anatoly Yakovenko, the co-founder of Solana. Reuters and Axios both reported on the round, and the company did not disclose its valuation.[4][5][1][7] Fintech News Singapore listed the round among the largest fintech funding deals in Asia in the first quarter of 2024.[8] In a Yahoo Finance video interview, Adar described the company's aim as bridging cryptocurrency holdings and conventional retail payments.[9]
Move to self-custody
[edit]Oobit subsequently introduced DePay, a settlement layer that allows payments to be made directly from wallets controlled by the user, without first transferring funds to a custodial account.[10][11] In January 2026, the company integrated the feature with Phantom Wallet, allowing that wallet's users to pay at Visa-accepting merchants online and in store while retaining custody of their funds until a payment is approved.[12]
International expansion
[edit]Following its initial European and British launch, Oobit extended the service to markets including the Philippines, Thailand, and Brazil.[10]
In December 2025, the company launched in South Africa. Electronic Payments International reported that Oobit positioned the service as a response to the country's capital control environment, converting stablecoins to fiat currency at the time of purchase over regulated Visa rails, and that the launch was accompanied by a partnership with the blockchain network Stable.[10]
In January 2026, Oobit opened a local office in Brazil as part of its Latin American strategy; the move was reported by Estadão and Finsiders Brasil.[13][11] According to Finsiders Brasil, the company entered the country with roughly 10,000 existing users, and stablecoins accounted for 92.2% of its Brazilian transaction volume, compared with 83% across its other markets.[11]
Products and services
[edit]Consumer payments
[edit]Oobit's main product is a mobile application that connects to a user's cryptocurrency holdings and allows payments at point-of-sale terminals accepting Visa or Mastercard, with conversion to local fiat currency at checkout.[1][2][3] Calcalist reported that the app could be used at more than 100 million retailers worldwide.[1] Payments may be initiated from external self-custody wallets through the DePay layer, which the company describes as providing gasless on-chain settlement.[10] The platform offers cashback of up to 10% on eligible purchases.[10]
Corporate products
[edit]In May 2026, The Paypers reported the launch of Agent Cards, a corporate card product intended for autonomous software agents rather than human employees. According to the report, finance teams can set per-agent transaction limits and merchant category restrictions that are enforced automatically, each transaction is logged in the company's dashboard, cards are funded from a company's stablecoin balance, and access requires Know Your Business verification.[14] The same report stated that the product drew on a payment network covering 150 million merchants in more than 100 countries.[14]
According to the company, all users must complete Know Your Customer identity verification before gaining access to payment features, and anti-money laundering screening includes checks against international sanctions lists, politically exposed persons databases, and adverse media.[15]
Commissioned research
[edit]Oobit has commissioned and published survey research on cryptocurrency use. A study on wallet security, reported by the Brazilian magazines Exame and Veja, found that approximately one in three cryptocurrency investors had at some point lost access to their own wallet.[16][17] A separate survey of full-time employees, reported by the human resources trade publication HCA Magazine, found that 43% of workers expressed interest in receiving part of their pay in digital assets, while 7% said their employer offered such an option.[18]
References
[edit]- 1 2 3 4 5 6 7 8 "Crypto mobile payment app Oobit raises $25 million Series A". Calcalist / Ctech. 4 February 2024. Retrieved 20 August 2026.
- 1 2 3 4 5 6 "Oobit introduces its Tap & Pay solution". International Business Magazine. 15 September 2023. Retrieved 20 August 2026.
- 1 2 3 4 "Oobit introduces a Tap and Pay solution to support crypto payments". The Paypers. 15 September 2023. Retrieved 20 August 2026.
- 1 2 "Singapore's Oobit gets $25 mln funding from investors including crypto firm Tether". Reuters. 5 February 2024. Retrieved 20 August 2026.
- 1 2 "Stablecoin giant Tether leads $25 million Series A for Oobit". Axios. 4 February 2024. Retrieved 20 August 2026.
- ↑ Pugh, Alex (1 June 2023). "Crypto fintech Oobit names Phillip Lord as president". FinTech Futures. Retrieved 20 August 2026.
- ↑ "Crypto payments app Oobit raises USD 25 mln in Series A funding". The Paypers. 2024. Retrieved 20 August 2026.
- ↑ "Top Fintech Funding Deals in Asia, Q1 2024". Fintech News Singapore. 2024. Retrieved 20 August 2026.
- ↑ "Oobit co-founder aims to bridge crypto and everyday spending" (Video interview). Yahoo Finance. 2023. Retrieved 20 August 2026.
- 1 2 3 4 5 "Payments app Oobit expands with South Africa launch". Electronic Payments International. 1 December 2025. Retrieved 20 August 2026.
- 1 2 3 "Liderada por ex-N26, app de pagamentos em cripto Oobit chega ao Brasil" (in Portuguese). Finsiders Brasil. 2026. Retrieved 20 August 2026.
- ↑ "Oobit and Phantom Wallet enable daily crypto purchases". The Paypers. 2026. Retrieved 20 August 2026.
- ↑ "Oobit, aplicativo de pagamentos com cripto, abre escritório no Brasil" (in Portuguese). Estadão. 2026. Retrieved 20 August 2026.
- 1 2 "Oobit launches programmable corporate cards for AI agents". The Paypers. 4 May 2026. Retrieved 20 August 2026.
- ↑ "Privacy Notice". Oobit. 7 September 2025. Retrieved 20 August 2026.
- ↑ "1 em cada 3 investidores de criptomoedas já perdeu acesso à própria carteira, diz pesquisa" (in Portuguese). Exame. 2026. Retrieved 20 August 2026.
- ↑ "Esqueceu a senha da carteira de cripto? Um terço dos investidores já perdeu acesso aos ativos, diz pesquisa" (in Portuguese). Veja. 2026. Retrieved 20 August 2026.
- ↑ "Is Crypto Pay the New Incentive Employers Need?". HCA Magazine. 2025. Retrieved 20 August 2026.