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Tether Leads Oobit’s $25M Series A Funding Round to Propel Crypto Adoption

5 February, 2024 – Tether, the largest company in the cryptocurrency
industry, has announced its investment in Oobit, a mobile payment application.
The Series A funding round has concluded with $25 million raised for Oobit’s
ongoing development, supporting its goal of mainstream cryptocurrency adoption.
This aligns with Tether’s vision of a financially inclusive world.

Oobit’s mobile payment app empowers crypto holders to Tap & Pay at over
100 million retailers worldwide, accepting Visa and Mastercard. This seamless
integration allows merchants to effortlessly embrace digital assets as a form of
payment, providing customers with a convenient way to use their digital assets
for transactions. In the pipeline, future updates to Oobit will enable customers
to make crypto payments while ensuring that merchants seamlessly receive fiat
currency in return, mirroring the simplicity of customers paying with a credit
card.

The Series A funding round, led by Tether’s investment arm, saw significant
participation from pivotal industry leaders and strategic investors. Notable
contributors include CMCC Global’s Titan Fund, 468 Capital, and Anatoly
Yakovenko, Co-founder of Solana.

“Tether’s strategic investment in Oobit underscores our unwavering dedication to
welcoming new users into the cryptocurrency ecosystem,” said Paolo Ardoino,
CEO of Tether
. “Our support is founded on a mutual vision to drive the
widespread adoption of cryptocurrencies on a global scale. Oobit, in our
perspective, stands as a catalyst, breaking down barriers and facilitating
frictionless transactions for crypto holders worldwide.”

The Oobit app is available on the Apple App Store and Google Play and can be
connected with Oobit’s native blockchain wallet to enable payments via Tether,
Bitcoin, and other digital assets.

To learn more, visit https://tether.to.

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