Oobit connects Pix to 170M users

• Oobit has integrated Brazil's Pix payment network, enabling users to fund accounts with Brazilian reais and spend Tether's USDT.
• The integration gives the Tether-backed payments app access to Pix's network of more than 170 million users across Brazil.
• The company is expanding its Latin American presence following Tether's US$25 million investment and rising regional user activity.

Oobit integrated Brazil's Pix payment network, allowing users to deposit Brazilian reais and spend Tether (CRYPTO:USDT) through its mobile payments platform, which now has access to a network of more than 170 million users.

The integration extends Oobit's expansion in Latin America after Tether led a US$25 million funding round and comes as Pix reaches about 93% of Brazil's adult population.

“The blockchain runs in the background, while the experience is identical to the Pix flow Brazilians already know from every banking app,” said Oobit adviser Alex Obchakevich.

Brazilian users can now fund their Oobit accounts through Pix, automatically receive USDT and make payments through the app, while the company said the service also allows users to hold USDT as a savings instrument.

Oobit said the integration supports its strategy of expanding crypto payments across Latin America, while the company remains privately held following its latest funding round.

The company reported that user activity has increased by more than 200% since launching in Brazil, with active users spending more than US$400 per month across an average of 20 monthly transactions.

Pix, developed by the Central Bank of Brazil, has become the country's dominant instant payment network, making it an important channel for companies seeking to expand digital asset payment services.