Mobile payment app Oobit has raised $25 million in Series A funding.
Coindesk reports this with reference to project representatives.
According to the team's statement, the round was led by the investment arm of Tether, the company issuing the USDT stablecoin. In addition, the project received funding from Titan Fund CMCC Global and 468 Capital, as well as Solana co-founder Anatoly Yakovenko.
“Tether’s strategic investment in Oobit underscores our unwavering commitment to attracting new users to the cryptocurrency ecosystem. Our support is based on our mutual commitment to enable widespread adoption of digital assets on a global scale,” said Tether CEO Paolo Ardoino.
Oobit is a mobile application for making crypto payments. It allows cryptocurrency holders to make payments at more than 100 million merchants around the world that accept Visa and Mastercard.
“With the support of industry leaders, this funding round marks a turning point for Oobit. The investment will help our team move forward in creating a simple way to pay for goods and services with digital assets anywhere,” said project co-founder and CEO Amram Adar.
The Oobit representative also announced a number of important partnerships that will be announced in the coming months.
