Oobit's payment application is designed to promote the mainstream adoption of cryptocurrency payments for everyday transactions by individuals and businesses alike. Users can now pay and get paid in cryptocurrency with zero networking or gas fees worldwide, as well as rapidly convert fiat to crypto using built-in on- and off-ramps, Yahoo Finance reports.
Oobit was founded in 2017 and today maintains an international footprint with its headquarters in Singapore, thought leadership in Israel, and a licensed office in Estonia to facilitate operations in the European Union. The launch of the Oobit app follows the company's core objective of promoting crypto accessibility for everyday utility. The application supports over 40 different cryptocurrencies, and users have the option to buy crypto assets directly via credit card or bank transfer. They can also track transactions in real-time and have access to Oobit's 24/7 customer support service.
Oobit for Businesses is the enterprise module of the application that provides a payment solution for participating companies of any size to pay and get paid in crypto by customers and vendors alike. Other features of Oobit for Businesses include the ability to generate transaction invoices for bookkeeping and taxation purposes, as well as the option to open customisable business profiles that Oobit community members can access via mobile number or QR-code to perform transactions on the go.
The Oobit mobile application reportedly ensures robust security, insurance/centralisation, and KYC/AML compliance for assets through a number of strategic partnerships. The application provides users with secure storage of assets through its partner GK8's proprietary MPC wallet technology. All transactions are insured and centralised by Aon, and KYC services are provided by Sumsub for a fast and user-friendly onboarding process. Lastly, Elliptic's chain analysis services ensure regulatory compliance that guarantee Oobit's viability for use by a diverse clientele that ranges from individual consumers to small businesses and large enterprises.
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