Oobit Partners with VeChain for Sustainable Crypto Transactions with VET Token Integration
In Brief
Oobit partnered with VeChain to integrate VET into its tap-and-pay feature, allowing users to utilize the token for daily transactions.
Mobile payment application Oobit announced it partnered with the blockchain platform VeChain (VET) to integrate its native token into the platform. Incorporating VET into Oobit’s tap-and-pay feature will allow users to integrate the token into their daily transactions, facilitating everyday financial activities and contributing to VeChain‘s Environmental, Social and Governance (ESG) aspirations.
“VeChain is excited to partner with Oobit, merging our commitment to ESG initiatives with Oobit’s innovative approach. The integration of VET into Oobit’s platform is not just a technological enhancement, it’s a tangible step towards making blockchain technology synonymous with positive societal impact,” said Sunny Lu, CEO of VeChain.
Furthermore, users participating in sustainability-focused decentralized applications (dApps) through VeBetterDAO will be rewarded with the platform’s incentive token B3TR, fostering increased utilization of both VET and VTHO. Utilizing VeChain’s ‘X-2-Earn’ model, VeBetterDAO enables diverse stakeholders, ranging from individuals to large corporations, to actively support sustainability initiatives by incentivizing everyday transactions, transforming them into a positive force for good.
“This partnership signifies more than a technological integration; it’s a bold step towards a future where every transaction contributes to sustainability,” said Amram Adar, CEO of Oobit.
Oobit Bridges Global Crypto Transactions with Payment Innovations
Founded in 2017, Oobit is a mobile payment application that facilitates convenient cryptocurrency transactions locally and internationally. Through the Oobit application, consumers have a straightforward means to purchase cryptocurrencies, with merchants receiving payments in fiat currency.
The company’s ecosystem allows cryptocurrency holders to utilize tap-and-pay services at more than 100 million retailers worldwide, where Visa and Mastercard payments are accepted by using funds from the Oobit wallet. The launch of Oobit’s tap-and-pay feature will initially be rolled out in the European Union, focusing on Android users.
Recently, Oobit raised $25 million in a Series A funding round to advance its efforts to streamline payments with digital assets. With the new investment, the company will facilitate the integration of external wallets, accelerate a Web3 gateway development, and expand into new regions, extending beyond its primary markets in the European Union and the United Kingdom.
As part of its future plans, the company intends to extend this capability to third-party wallets, transitioning Oobit into a non-custodial cryptocurrency payments application. With the recent collaboration, Oobit is further broadening its payment ecosystem by integrating VET as the new addition to the top 5 tokens it currently supports, making it the 6th token listed on the Oobit platform.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
