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Oobit introduces USDT payments to the Brazil PIX network

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CryptoWorld News reports that Oobit has announced the integration of its payment app with Brazil’s PIX payment network, providing users with a new way to convert between Brazilian reais and USDT. Users can deposit Brazilian reais into Oobit, hold Tether stablecoins pegged to the U.S. dollar, and make purchases via PIX. This feature connects Oobit to one of the world’s largest instant payment systems. PIX was created by the Central Bank of Brazil in 2020, has nearly 170 million users, and processed 11 trillion reais in transactions in 2024. Oobit said the product preserves a user experience similar to the PIX process familiar to Brazilians. Users can send funds to a PIX key, scan QR codes, or top up through the app, while blockchain settlement takes place in the background. Oobit completed a $25 million Series A funding round in 2024, with Tether leading the investment.
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GammaRunner
· 2h ago
Holding dollar-pegged assets but using local payments for consumption, can other emerging markets replicate this bridging model?
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DaoAfterparty
· 2h ago
Backend on-chain settlement, while the frontend remains the same old PIX; Oobit has a pretty clear understanding of user experience in this area.
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InstantNoodle-LevelResearcher
· 2h ago
Tether leads a $25 million investment, suggesting that stablecoin giants are also eyeing the Latin American payments market.
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TheStoneBehindTheVolcano
· 2h ago
11 trillion reais in trading volume, 170 million users, this market is big enough
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PickingUpAirdropsInTheFog
· 2h ago
The PIX+USDT combination really is ingenious—Brazilians already know PIX, and now they can hold USDT painlessly.
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