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 now offers direct Visa payments via Phantom Wallet, enabling spending without pre-funding or custody loss.
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.
Oobit partners with Bakkt to launch in the United States, offering tap-to-pay functionality that integrates with non-custodial wallets including Base, Binance, MetaMask, Phantom, and Trust Wallet, with merchants receiving instant fiat payouts through Visa rails. The app offers 10% cash back rewards for users.
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.
Tether leads a $25m funding round with Toly participating. A flywheel mechanism launches where 50% of all app fees generated from $OOB go to token buybacks and burns, and USAT rolls out in the United States 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 investment is structured as a $50M DAT at $0.20 per token via OTC, with another $50M planned for open market buying.
Nasdaq-listed tech firm VCI Global purchases $100M worth of OOB tokens, with Tether expected to become VCI Global's largest shareholder following the transaction.
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.