Tether-backed mobile wallet Oobit adds native Phantom support, expanding Solana’s ties to Visa

The Tether-backed mobile wallet Oobit has integrated native support for Phantom, a leading self-custody wallet for Solana with over fifteen million global users. This integration allows Phantom users to spend their crypto assets via Visa payment rails at any accepting merchant. Oobit utilizes a decentralized "DePay" payment layer that bridges on-chain crypto settlements with traditional Visa networks, automatically converting crypto to fiat at the point of sale, ensuring funds are deducted in real-time from the user's wallet upon transaction approval. Solana co-founder Anatoly Yakovenko co-led Oobit's $25 million Series A funding round alongside Tether. Oobit's DePay service is currently active in key markets including the US, Brazil, South Korea, the Philippines, and Thailand.

(Source：The Block)