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## Oobit Secures $25 Million in Series A Funding

### Introduction to Oobit’s Recent Funding

In recent news, crypto mobile payments firm Oobit announced that it has successfully secured $25 million in Series A funding. This funding round was led by prominent names in the industry such as Tether, Solana co-founder Anatoly Yakovenko, CMCC Global, and 468 Capital. Oobit, which was established in 2017, aims to revolutionize the way consumers make payments using cryptocurrency, similar to the convenience provided by Apple Pay.

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### Strategic Investments and Expansion Plans

Tether’s CEO, Paolo Ardoino, expressed the company’s strategic investment in Oobit as a testament to their commitment to welcoming new users into the cryptocurrency ecosystem. Oobit’s innovative approach to removing barriers and facilitating seamless crypto transactions has garnered attention from industry leaders. Similar efforts have been observed in traditional fintech companies such as PayPal and Nubank, as well as payment giant Visa, indicating a growing trend towards integrating cryptocurrency into mainstream payment solutions.

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### Transition to ‘Non-Custodial’ Crypto Payments App

While Oobit currently enables consumers to utilize cryptocurrencies in traditional commerce settings, the company has ambitious plans to further expand its capabilities. Oobit aims to allow external third-party wallets, transitioning towards becoming a non-custodial crypto payments app. This move signifies Oobit’s commitment to innovation, bridging the gap between blockchain systems and traditional financial systems, as highlighted by Martin Baumann, co-founder and Managing Partner of CMCC Global.

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### Conclusion

The recent Series A funding secured by Oobit marks a significant milestone in the company’s journey towards revolutionizing the way consumers engage with cryptocurrency in everyday transactions. With strategic investments, expansion plans, and a transition towards non-custodial payment solutions, Oobit is poised to make a lasting impact in the evolving landscape of digital payments.

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