Oobit Integrates Pix Payment System for 170 Million Brazilian Users

Oobit, a payments app backed by Tether, announced on Tuesday the implementation of native Pix integration for Brazilian users. The integration allows users to deposit Brazilian reais with Pix and receive USDT seamlessly on Oobit's mobile app, enabling them to complete payments in seconds. Pix is the most popular payment system in Brazil, created by the central bank, with a 170 million user base, an estimate of 93% of all adults in Brazil.

Oobit Implements Native Pix Integration for USDT Deposits

According to a social media post on Tuesday, Brazilian users can now deposit Brazilian reais with Pix and receive USDT seamlessly on Oobit's mobile app. The integration enables users to complete payments in seconds with these funds and leverage USDT as a savings instrument.

Oobit advisor Alex Obchakevich highlighted the relevance of this integration and stated that the payment process was similar to any other banking app. "The blockchain runs in the background, while the experience is identical to the Pix flow Brazilians already know from every banking app. No new interfaces, no conversion delays," he declared.

Tether Led $25 Million Funding Round for Oobit

The Pix integration follows a $25 million funding round led by Tether, with participation of Solana's Anatoly Yakovenko. At the time, Tether CEO Paolo Ardoino stated that the company stood as a catalyst "breaking down barriers and facilitating frictionless transactions for crypto holders worldwide."

Oobit Usage Grew 200% in Brazil Market

Brazil has grown into a key market for Oobit. In May, when it formally launched its services in Colombia, Oobit revealed that its activity had grown over 200% since it started operating in Brazil. Active users spend over $400 and average 20 transactions each month by taking advantage of the credit card integration the app also offers.

FAQ

What did Oobit announce on Tuesday?

Oobit announced on Tuesday the implementation of native Pix integration, allowing Brazilian users to deposit Brazilian reais with Pix and receive USDT seamlessly on Oobit's mobile app.

How many users does Pix have in Brazil?

Pix has a 170 million user base, which represents an estimate of 93% of all adults in Brazil. Pix is the most popular payment system in Brazil, created by the central bank.

How much did Tether invest in Oobit?

Tether led a $25 million funding round for Oobit, with participation of Solana's Anatoly Yakovenko.