Tether, the operator of the largest USDT stablecoin, has announced investments in the Oobit mobile payment application. The Series A financing round with a total value of $25 million, led by Tether's investment division, was attended by leaders of the crypto industry and strategic investors. Among the well—known participants are the Titan Fund of CMCC Global, 468 Capital and Anatoly Yakovenko, co-founder of Solana.
The Oobit mobile application allows cryptocurrency owners to make contactless payments for goods and services in more than 100 million stores worldwide that accept Visa and Mastercard. In the future, Oobit will ensure that sellers receive fiat currency, similar to paying with a credit card by customers.
Paolo Ardoino, CEO of Tether, said that the investment in Oobit confirms the company's "commitment to attracting new users to the cryptocurrency ecosystem."