Oobit Adds Support for Phantom Wallet to Bring Real-World Crypto Payments to 15 Million Users

SPONSORED POST*

Oobit is expanding its day-to-day crypto payments ecosystem as it adds support for Phantom Wallet, allowing users to pay directly from their wallet at any merchant that accepts Visa.

Tether-Backed Oobit Adds Native Support for Phantom Wallet

Oobit, the Tether-backed mobile payments app, has added support for Phantom Wallet, allowing users to make day-to-day crypto payments directly from their wallet at any merchant that accepts Visa.

The integration is part of Oobit’s mission to make crypto usable in everyday payments in the same way people use traditional mobile wallets like Apple Pay to pay for goods and services in both online and physical stores.

The company’s blockchain-based payments layer, DePay, enables users to pay using crypto in millions of global stores where Visa is accepted, with merchants receiving fiat currencies.

DePay Powering Global Everyday Crypto Payments

DePay, oobit’s decentralised payments layer, is helping crypto payment service providers bridge a long-standing gap by extending crypto utility to everyday use. Launched in October last year, DePay uses a smart contract layer to execute just-in-time (JIT) token transfers and atomic swaps at the moment of authorization.

DePay supports settlements across ERC-20, TRC-20, BSC, Solana, and Polygon networks through Visa rails.

According to Amram Adar, the CEO of Oobit, DePay turns billions of dollars that sit idle in self-custody wallets every day into spendable money.

Oobit’s Growing Global Footprint

Oobit is not just expanding its support for multiple wallets; it is also expanding geographically. Since launching DePay, the company has expanded its services into Southeast Asia, Latin America, the United States, and Africa. 

DePay launched in Brazil, South Korea, the Philippines, and Thailand, establishing strategic operations in some of the world’s fastest-growing crypto hubs. 

Its entry into the United States also saw it partner with Bakkt, announced just four months after last year’s GENIUS Act approval. The GENIUS Act bill seeks to provide a clear framework for the regulation of stablecoins.

Phantom Support Brings Everyday Crypto Payments to over 15 Million Users

Phantom is one of the leading providers of self-custody wallets with over 15 million users. However, like many non-custodial crypto wallets, users find it difficult to spend their crypto without leveraging the services of third-party platforms, like crypto exchange platforms.

By integrating Oobit, users will be able to make payments directly from the wallet with no pre-transfers, no bridging, and no intermediaries involved. They retain full control of their funds until the moment they approve a transaction.

Oobit’s recent expansion also happens to match Phantom’s biggest market in terms of user base. Those countries also happen to be among those where stablecoins are increasingly being used as a payment method, not just a store of value, thus reinforcing Oobit’s global expansion plans.

“As longtime fans of Phantom, seeing this wallet become real money for everyday life is incredibly exciting. This is the moment crypto leaves the screen and enters daily use,” said Oobit Co-founder and CEO Amram Adar. With Phantom Wallet now enabled through DePay, millions of users can pay online and in-store anywhere Visa is accepted, directly from their own wallet.

*This article was paid for. Cryptonomist did not write the article or test the platform.