Oobit now allows users to send crypto directly to any bank account worldwide. The feature extends the Tether-backed payments app beyond card rails into real-time fiat settlement across major banking networks.
The rollout is powered by Distributed Technologies Research, a routing infrastructure provider that connects crypto wallets to traditional payment rails. According to the company, users can see in real time how much crypto leaves their wallet and how much fiat arrives in the recipient’s account, with settlement occurring in seconds through local systems such as SEPA in Europe, ACH in the United States, and SPEI in Mexico. Initial fiat support includes USD, EUR, MXN, and PHP, alongside more than 20 digital assets including bitcoin (BTC), ether (ETH), tether (USDT), and USD Coin (USDC).
Can Crypto Bypass Correspondent Banking?
Oobit said the structure enables transfers without relying on the traditional cross-border correspondent banking system, which often adds cost and settlement delays. Distributed Technologies Research is being acquired by Bakkt (NYSE: BKKT), the Intercontinental Exchange-backed crypto infrastructure firm, with Akshay Naheta serving as founder and CEO of DTR and CEO of Bakkt. Oobit previously partnered with Bakkt to expand operations across all 50 U.S. states.
Founded in 2017, Oobit integrates with non-custodial wallets such as Base, Binance, MetaMask, and Phantom, enabling tap-to-pay transactions on iOS and Android devices while merchants receive fiat via Visa rails.
“Infrastructure connecting digital asset platforms with traditional financial systems is foundational to broader adoption,” Naheta said, adding that DTR’s integration supports settlement through established networks.
The expansion follows Oobit’s $25 million Series A led by Tether and a separate $100 million investment in OOB tokens announced by VCI Global (VCIG), which said it would manage Oobit’s digital treasury. Market participants will watch transaction volumes and corridor expansion to gauge whether crypto-to-bank routing can materially challenge legacy remittance channels.
