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Draft:Oobit

From Wikipedia, the free encyclopedia
  • Comment: This was incorrectly declined in my previous review, the guidance in this area is poorly described. My apologies to the submitting editor, and this draft is now open to review again. ChrysGalley (talk) 06:53, 10 July 2026 (UTC)
Oobit
IndustryFinance, Cryptocurrency
Founded2017
FoundersAmram Adar (CEO), Aharon Miller (COO)
HeadquartersSingapore

Oobit is a financial technology company based in Singapore. Its virtual crypto card lets users spend cryptocurrency wherever Visa is accepted, both online and in physical stores.[1][2] The card works with Apple Pay and Google Pay, converting cryptocurrency to local fiat currency at checkout, and users can connect a self-custody wallet or fund an account directly with stablecoins.[2][3] According to the company, the platform has accumulated over 500,000 users.[4] Tether, the largest stablecoin issuer by market capitalization, led the company's $25 million Series A funding round in February 2024.[2][5][6]

History

[edit]

Oobit was co-founded by Amram Adar, who serves as chief executive officer, and Aharon Miller, who serves as chief operating officer.[2] The company is headquartered in Singapore. In an interview with Tech Startups, Adar described the company's aim as enabling everyday crypto spending, characterising its Phantom Wallet integration as a step toward crypto "leaving the screen and entering daily use."[7]

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, Axios, and CoinDesk all reported on the deal, with CoinDesk noting that the company declined to disclose its valuation.[2][5][6] At the time of the funding announcement, Oobit also stated its plans to shift to a non-custodial model and build partnerships with third-party wallet providers.[2]

In October 2025, the company launched DePay, a payment layer that lets users spend directly from self-custody wallets such as MetaMask, Trust Wallet, and Binance Wallet.[8] In January 2026, Oobit integrated DePay with Phantom Wallet, enabling Phantom's users to make payments at Visa-accepting merchants directly from their wallets; the integration was covered by Tech Startups and The Paypers.[7][9] In February 2026, Cointelegraph reported on the launch of a crypto-to-bank transfer service allowing users to send funds from self-custody wallets to bank accounts in local currency through domestic payment networks, including SEPA, ACH, and SPEI.[10] In April 2026, Bitcoin.com News reported on the launch of Agent Cards, a corporate card product designed for artificial intelligence agents.[11]

International expansion

[edit]

In January 2026, Oobit expanded into Brazil, opening a local office as part of its Latin American growth strategy. The expansion was covered by Brazilian outlets including Estadão and Finsiders Brasil, which reported on the company's entry into the Brazilian market and its support for payments directly from self-custody wallets.[12][13]

Products and services

[edit]

Crypto card and consumer payments

[edit]

Oobit's main product is a Visa-powered virtual crypto card that lets holders of Bitcoin, Ethereum, USDT, and other supported tokens spend at Visa merchants.[2][8][14] The card integrates with Apple Pay and Google Pay, functioning as a tap-to-pay payment card with conversion from cryptocurrency to local fiat currency at checkout.[2][8] Merchants receive payment in their local currency without having to make changes to their existing payment infrastructure.[1][2]

The DePay feature allows payments to be initiated directly from external self-custody wallets without requiring users to pre-load a custodial wallet.[8] The platform offers a cashback rewards programme of up to 10% on eligible transactions, paid in stablecoins. In a March 2026 review of crypto cards, The Block noted that headline rewards rates in the crypto card market are often subject to fee caps and staking requirements.[15] As of early 2026, the Oobit app held a rating of 4.8 on the Apple App Store across more than 22,000 reviews and 4.7 on Google Play.[14]

Business and corporate products

[edit]

Oobit's Corporate Cards let businesses issue multiple Visa-enabled spending cards funded from a stablecoin treasury, with individual controls for each card.[16] In March 2026, the company launched Oobit Business, a platform for managing corporate spending, payroll, vendor payments, and treasury from stablecoin balances; the launch was covered by Invezz and Analytics Insight.[17][18] According to that coverage, the platform allows companies to issue corporate cards, pay vendors and staff, and move funds between cryptocurrency and bank accounts from a single dashboard, using SEPA, ACH, and PIX rails for the traditional banking side.[17][18] Coverage of the launch situated the platform within a broader trend of stablecoins being used for operational corporate finance rather than solely as a store of value.[17][18]

In April 2026, Bitcoin.com News reported on the launch of Agent Cards, which Oobit described as corporate cards built for AI agents instead of human employees.[11] According to the article, each AI agent is assigned its own programmable Visa virtual card, funded from the company's USDT balance, and includes per-transaction and per-merchant spending caps.[11]

Crypto-to-bank transfers

[edit]

Cointelegraph reported in February 2026 that Oobit launched a crypto-to-bank transfer service, which lets users move funds from a self-custody wallet to a local bank account via on-chain settlement.[10] According to the report, the service is powered by Distributed Technologies Research (DTR), connecting Oobit's wallet interface to networks including SEPA in Europe, ACH in the United States, and SPEI in Mexico.[10] Settlement currencies at launch included US dollars, euros, Mexican pesos, and Philippine pesos.[10] DTR was, at the time of launch, in the process of being acquired by Bakkt, a digital asset platform launched by the Intercontinental Exchange.[10]

Research

[edit]

Oobit has commissioned research on Bitcoin holder behaviour, cryptocurrency wallet security, and compensation trends, with findings covered by Bitcoin Magazine, Bitcoin.com News, HCA Magazine, Cryptonomist, Cryptorank, and Brazilian outlets including Exame and Veja.[19][20][21][22][23][24][25]

A survey of 1,006 American Bitcoin holders, conducted during the Bitcoin market correction of February 2026, found that 69% of respondents had neither sold nor planned to sell their holdings, with only 8% classified as panic sellers.[20][21][22] A separate survey of 1,004 full-time employees, covered by HCA Magazine and Cryptorank, found that 43% of workers expressed interest in receiving some portion of their pay in digital assets, while only 7% reported that their employers currently offered a crypto payroll option.[19][23][24] A further study on wallet security, covered by Exame and Veja, reported that approximately one in three cryptocurrency investors had at some point lost access to their own wallet.[25][26]

Reception

[edit]

Oobit has been covered by international financial and technology media in connection with its funding, product launches, and published research. The Series A funding round in February 2024 was reported on by Reuters, Axios, and CoinDesk.[2][5][6] Cointelegraph later covered the crypto-to-bank transfer launch in February 2026, and Bitcoin.com News covered the Agent Cards launch in April 2026.[10][11] The company's expansion into Brazil received coverage in major Brazilian outlets including Estadão and Finsiders Brasil.[12][13]

On consumer review platforms, the Oobit app carries a 4.8 rating on the Apple App Store across more than 22,000 reviews and a 4.7 on Google Play as of early 2026.[14] Trustpilot lists Oobit's overall rating at 4.0 based on more than 445 reviews, with critical reviews citing concerns including fee transparency, support response times, and regional availability.[27][28]

Regulatory compliance

[edit]

According to the company, Oobit requires all users to complete Know Your Customer (KYC) identity verification before accessing payment features. Anti-money laundering screening is also conducted, including checks against international sanctions lists, risk assessments, politically exposed persons databases, and adverse media.[29][30] Business accounts go through a separate Know Your Business (KYB) verification process before gaining access to corporate products.[30]

References

[edit]
  1. ^ a b "Crypto mobile payment app Oobit raises $25 million Series A". Calcalist / Ctech. 2024-02-04. Retrieved 2026-03-16.
  2. ^ a b c d e f g h i j "Crypto Payments App Oobit Raises $25M in Series A Funding Round Led by Tether". CoinDesk. 2024-02-05. Retrieved 2026-03-16.
  3. ^ "Crypto Card | 10% Cashback Unlimited". Oobit. Retrieved 2026-03-16.
  4. ^ "About Oobit | Making Crypto Easy to Use from Any Wallet, Anywhere". Oobit. Retrieved 2026-03-16.
  5. ^ a b c "Singapore's Oobit gets $25 mln funding from investors including crypto firm Tether". Reuters. 2024-02-05. Retrieved 2026-03-16.
  6. ^ a b c "Stablecoin giant Tether leads $25 million Series A for Oobit". Axios. 2024-02-04. Retrieved 2026-03-16.
  7. ^ a b Levi, Daniel (2026-01-14). "Oobit Advances Real-World Crypto Payments with Support for Phantom Wallet". Tech Startups. Retrieved 2026-03-16.
  8. ^ a b c d "Oobit brings self-custody wallets to the checkout counter". crypto.news. 2025-10-08. Retrieved 2026-03-16.
  9. ^ "Oobit and Phantom Wallet enable daily crypto purchases". The Paypers. 2026. Retrieved 2026-03-16.
  10. ^ a b c d e f "Tether-Backed Oobit Adds Crypto-to-Bank Transfers". Cointelegraph. 2026-02-24. Retrieved 2026-03-16.
  11. ^ a b c d "Tether-Backed Financial Platform Oobit Gives AI Agents Their Own Corporate Visa Cards". Bitcoin.com News. 2026-04-29. Retrieved 2026-03-16.
  12. ^ a b "Oobit, aplicativo de pagamentos com cripto, abre escritório no Brasil" (in Portuguese). Estadão. 2026. Retrieved 2026-03-16.
  13. ^ a b "Liderada por ex-N26, app de pagamentos em cripto Oobit chega ao Brasil" (in Portuguese). Finsiders Brasil. 2026. Retrieved 2026-03-16.
  14. ^ a b c "A Review of The Oobit Crypto Card". Cryptowisser. 2026-04-22. Retrieved 2026-03-16.
  15. ^ "Best crypto cards with token rewards in 2026". The Block. 2026-03-02. Retrieved 2026-03-16.
  16. ^ "Corporate Cards Powered by Stablecoins". Oobit. Retrieved 2026-03-16.
  17. ^ a b c "Oobit unveils business platform for running company finances on stablecoins". Invezz. 2026-03-24. Retrieved 2026-03-16.
  18. ^ a b c "Oobit Launches Oobit Business to Turn Stablecoins Into a Corporate Finance Stack". Analytics Insight. 2026-03-24. Retrieved 2026-03-16.
  19. ^ a b "Demand For Crypto Pay Surges, But Payroll Systems Fall Behind". Bitcoin Magazine. 2025. Retrieved 2026-03-16.
  20. ^ a b "Despite A 47% Price Drop, Bitcoin Traders Aren't Selling". Bitcoin Magazine. 2026. Retrieved 2026-03-16.
  21. ^ a b "Diamond Hands Win: 85% of Bitcoin Holders Stood Firm Through the February Dip". Bitcoin.com News. 2026. Retrieved 2026-03-16.
  22. ^ a b "Bitcoin sentiment crash holders". Cryptonomist. 2026-03-05. Retrieved 2026-03-16.
  23. ^ a b "Is Crypto Pay the New Incentive Employers Need?". HCA Magazine. 2025. Retrieved 2026-03-16.
  24. ^ a b "Demand for crypto pay surges but payroll systems fall behind". Cryptorank. 2025. Retrieved 2026-03-16.
  25. ^ a b "1 em cada 3 investidores de criptomoedas já perdeu acesso à própria carteira, diz pesquisa" (in Portuguese). Exame. 2026. Retrieved 2026-03-16.
  26. ^ "Esqueceu a senha da carteira de cripto? Um terço dos investidores já perdeu acesso aos ativos, diz pesquisa" (in Portuguese). Veja. 2026. Retrieved 2026-03-16.
  27. ^ "Oobit Reviews". Trustpilot. Retrieved 2026-03-16.
  28. ^ "Oobit – Crypto Card". Google Play. Retrieved 2026-03-16.
  29. ^ "Privacy Notice". Oobit. 2025-09-07. Retrieved 2026-03-16.
  30. ^ a b "FAQ – Oobit's Plug & Pay SDK". Oobit. 2025-12-27. Retrieved 2026-03-16.

Category:Financial technology companies Category:Companies based in Singapore Category:Israeli companies Category:Visa Inc. Category:Stablecoins

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