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Quick take:
The announcement makes Oobit the first payments network to make USA₮ spendable in more than 100 million merchants where Visa is accepted.
The announcement also comes on the heels of Oobit’s launch in the US, announced earlier this month.
Issued by Tether America, USA₮ launched in November as the first stablecoin token designed to comply with the federal regulations of the U.S. GENIUS Act.
Oobit, the crypto payments network enhancing crypto utility by enabling daily usability, has announced support for Tether’s newly launched USD-backed stablecoin USA₮. The announcement makes Oobit the first payments network to make USA₮ spendable in more than 100 million merchants where Visa is accepted.
Issued by Tether America, USA₮ launched in November as the first stablecoin token designed to comply with the federal regulations of the U.S. GENIUS Act.
The announcement also comes on the heels of Oobit’s launch in the US, announced earlier this month. According to the announcement shared with NFTgators, the partnership will enable U.S. users to transact securely and efficiently with any physical or online retailer that supports Visa credit and debit card payments.
Tether sees this partnership as a key milestone as it bids to transform American commerce with more efficient, stablecoin-based payments.
The two companies will collaborate to integrate USA₮ in Oobit’s payments network, enabling U.S. users to transact securely and efficiently with any physical or online retailer that supports Visa credit and debit card payments.
Amram Adar, CEO of Oobit, CEO of Oobit, said: “The Digital Dollar is only real when you can buy something with it. Tether delivered the regulatory foundation with USA₮. We deliver the moment of use. This is the final piece that turns stablecoins into everyday money in the United States.”
Tether has also partnered with Achorage Digital, the first US-regulated crypto bank, to make it simpler for users to send USA₮ from the Oobit app, and the funds are immediately converted into fiat and transferred into the retailer’s U.S. bank account.
Oobit’s global payments network through DePay has already launched in multiple jurisdictions around the world, including Brazil, Thailand, the Philippines, and South Africa. It has also partnered with leading crypto wallet service providers like MetaMask, Phantom, and Trust Wallet, as it continues to scale its crypto support network.
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