Mobile payments app Oobit raises $25M in Series A funding round

Singapore-based mobile payments app Oobit has raised $25 million in a Series A funding round led by Tether's investment arm, CMCC Global's Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko. The app allows users to pay for purchases using crypto, while merchants receive fiat currency. Oobit plans to open up the capability to third-party wallets, transitioning into a non-custodial crypto payments app. The company joins other crypto firms working with traditional finance companies to offer consumers more efficient ways of using their crypto holdings to pay for goods.

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