what's Oobit?
Oobit is a crypto payment platform that bridges self-custodial wallets to everyday spending. It enables users to pay with cryptocurrencies at any Visa terminal worldwide using tap-to-pay technology, supporting online purchases and peer-to-peer transfers without fees. Backed by Tether, the platform emphasizes seamless integration with existing payment infrastructure. The native OOB token powers the Oobit ecosystem, facilitating transactions, rewards, and incentives for users and merchants. It operates as a utility token within a network designed for global adoption, handling conversions and settlements in real-time while maintaining user control over funds.
Oobit integrated Plug & Pay with TRON for crypto-to-real-world payments.
Integrated with Visa to enable merchant acceptance of stablecoins as payment on Polygon.
Integrated Plug & Pay solution with TRON ecosystem to bridge crypto and real-world payments.
Integrated native Phantom Wallet support, enabling users to make Visa payments online and in-store directly from Phantom without pre-funding or giving up custody.
SEC filing requires deployment of $50m by end of December.
Partnered with Bakkt to launch in the United States, offering tap-to-pay with non-custodial wallets and instant fiat payouts via Visa rails, plus 10% cash back. Launched global crypto-to-fiat bank transfer functionality to any bank account via Distributed Technologies Research (DTR), settling via local payment rails for Bitcoin, Ethereum, and stablecoins, including SEPA, ACH, and SPEI.
Tether occupies both sides of the investment deal, setting the pricing for OOB tokens while simultaneously receiving the majority of PIPE shares in the transaction.
The project expands into the US market with its payments service. (ID: 1998044996591595836)
The VCI Global acquisition structure avoids 13D filing requirements and the 6-K filing omits disclosure of relationships between purchasers and Tether, a possible SEC Rule 12b-20 violation.
Nov 10 filing reveals Tether acquired 39.9% of VCI Global and Oobit directors/COO acquired combined 52.6% through private placement paid entirely in OOB tokens, with the 6-K filing potentially breaching SEC Rule 12b-20 by not disclosing related party relationships between purchasers and the structure designed to avoid 13D filing requirements.
A migration claim portal goes live, allowing users to claim their tokens.
Raised $25M Series A led by Tether with Toly participating. Launched a flywheel mechanism directing 50% of app fees to token buybacks and burns. USAT rolls out in December.
Token price declines sharply after recent gains, with coordinated shilling activity observed from approximately 30 accounts promoting simultaneously and community skepticism emerging about chart legitimacy and the DAT's authenticity.
TGE launches live on Solana and VCI Global acquires $100 million in OOB tokens.
OOB gains 360% and leads onchain Solana movers on November 13th.
The $100M DAT structure allocates $50M to OTC sales and $50M to open market purchases against a float of $95M (25% of the $380M market cap).
The investment is structured as a $50M DAT at $0.20 per token via OTC, with another $50M planned for open market buying.
Token lists on Kraken exchange with launch occurring 4 minutes early on-chain, resulting in price dislocation where on-chain price reaches $0.70 while Kraken shows $0.06-$0.10 for approximately 10 minutes.
VCI Global purchases $100M OOB tokens for treasury management, making Tether VCI Global's largest shareholder.
Project relaunches with Tether backing, opens at $700M+ FDV, and announces a $100M DAT described as the largest relative to market cap and float in the market. Token rebrands from $OBT to $OOB with over 1M users and global rollout underway.
Oobit officially launches in Brazil as part of global roll-out strategy, with 50,000 beta users as of November 4th.
An individual purchases $1 million worth of tokens on the Fomo app platform.
VCI Global purchases $100 million in OOB tokens and Tether becomes the largest shareholder.