Mobile Payments App Oobit Opens Office in Brazil to Advance LATAM Strategy

The company's DePay feature allows Brazilian users to connect their self-custody wallets and pay at physical stores, just like they would with Apple Pay.

Backed by USDT issuer, Tether, Oobit has also appointed fintech veteran Eduardo Prota to lead LATAM operations.

Oobit Officially Launches in Brazil with More Than 50,000 Brazilians Onboarded

The mobile payments app has opened a local office in the South American country, enabling direct crypto payments. Oobit's DePay feature enables click-to-pay functionality during checkout, allowing Brazilian users to connect their self-custody wallets and pay at physical stores, just like they would with Apple Pay and other Fiat mobile wallets.

The company just completed a successful beta phase, onboarding over 50,000 users across Brazil. One of the main data points during the pre-launch phase showed a strong focus on utility, with Tether's USDT stablecoin dominating statistics. Oobit established that in Brazil, 92.2% of digital asset payments were in stablecoins, with USDT accounting for 86%. This compares to global figures, excluding Brazil, where 83% of crypto payments are in stablecoins and 45% are made using USDT.

Oobit National Reach

Spending ranged from simple payments to big purchases, including a $836 flight ticket and a $764 clothing order, Oobit said, adding that its National reach is also evident in the diversity of communities using the app, including major cities like São Paulo, which accounts for 26% of Oobit's user base in the country to small towns like Belo Jardim with 2.6%.

Commenting on the announcement, Amram Adar, Co-founder and CEO of Oobit, said in a statement: "Global payments are being rewritten right now, and Brazil is the blueprint. We're proving that people everywhere are ready to control and spend their own money without asking for permission. This is the start of a financial system where the user holds the keys, not the bank."

Local Appointment to Spearhead LATAM Strategy

As part of its LATAM expansion strategy, the Tether-backed digital payments company has appointed fintech veteran Eduardo Prota to lead LATAM operations.

With over 26 million people, about 12% of the Brazilian population, holding digital assets, Brazil is one of the leading countries for crypto adoption. But people are now looking at crypto more than just a speculative asset, as evidenced in Oobit's beta launch, which showed a strong focus on utility.

"Oobit's launch turns Brazil into the proving ground for what everyday crypto utility looks like, secure, stablecoin-first, and truly self-custodial," the company said.

Eduardo Prota, Regional Manager for LATAM Expansion at Oobit, commented: "Just like mobile banking reshaped finance a decade ago, crypto payments will redefine how the world transacts. What's happening in Brazil is not local. It's global. We're seeing the first signs of a system where your phone, your wallet, and your financial freedom are all the same thing."