"Tether-Led $25M Series A Fuels Oobit's Crypto Payment Expansion"
Oobit, a mobile payments app, 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 consumers to pay for purchases using crypto while merchants receive fiat currency, and it plans to open up the capability to third-party wallets, transitioning into a non-custodial crypto payments app. Oobit joins other crypto firms working with traditional finance companies to offer more efficient ways of using crypto holdings for payments.