The payments company announced on Tuesday native integration with Brazil’s fast payment network Pix, allowing users to purchase and spend USDT with Oobit’s platform. The action targets a market of over 170 million users part of the Pix network.
Key Takeaways:
Oobit integrated Pix on Tuesday, next opening crypto payment markets to 170M Brazilian users.Tether led a $25M round for Oobit, next pushing USDT to capture 93% of Brazil’s payment market.Oobit usage grew 200% as users spend $400 monthly, expanding USDT adoption across Latam.Oobit, a payments app backed by Tether, has reached a milestone in Brazil that could potentially expand its reach to millions.
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.
The move comes as Oobit has pushed to expand into Latam after 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.”
