- Oobit integrates Phantom for worldwide Visa payments using stablecoins.
- Enables real-time payments without intermediaries.
- 15M+ users can utilize DePay system for easier transactions.
Tether-backed wallet Oobit integrates with Solana’s Phantom on January 14, enabling Visa-supported one-click stablecoin payments globally through the DePay system.
This integration facilitates crypto’s shift into daily transactions, potentially enhancing Solana’s market presence and offering users seamless digital payments through stablecoins.
Oobit and Phantom Unite for Real-time Crypto-to-Fiat Payments
Oobit, a Tether-backed mobile wallet, has announced its native integration with the Solana ecosystem wallet, Phantom. This collaboration enables one-click stablecoin payments at merchants that support Visa, offering users a seamless transaction experience.
The innovation eliminates the need for pre-transfers and intermediaries, allowing funds to be deducted in real-time and automatically converted to fiat currency. This new functionality is expected to serve customers in over 80 countries, enhancing global accessibility.
“This is the moment crypto leaves the screen and enters daily use,” Amram Adar, Co-founder and CEO of Oobit, said about the development. The involvement of Solana co-founder Anatoly Yakovenko, who co-led Oobit’s $25 million Series A funding round, underscores the significance placed on this development.
Solana’s Market Performance and Future Integration Potential
Did you know? Anatoly Yakovenko’s involvement in Oobit’s funding followed his previous ventures into scaling Solana’s payment capabilities through ecosystem partnerships, fostering financial inclusion for millions globally.
Solana (SOL), currently priced at $146.61, holds a market cap of $82.86 billion with a market dominance of 2.52%, according to CoinMarketCap. Over the past 24 hours, trading volume reached $6.51 billion, reflecting minor fluctuations in value.
Analysts at Coincu note that this integration could set precedence for similar partnerships, expanding the use of stablecoins in traditional payment systems. Historical trends suggest that such collaborations can further inspire technological advancements in blockchain-driven finance.
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