Tether-backed mobile wallet Oobit is adding native support for Phantom, giving access to Visa payment rails to one of the leading wallet platforms for Solana.
“The launch represents a major step toward everyday crypto payments,” the companies wrote. “Over the past few years, blockchain infrastructure has removed speed and cost barriers, while Phantom built one of the largest self-custody user bases in crypto with more than fifteen million users globally. Yet despite this scale, most wallet users still had no simple way to spend their assets in daily life.”
Oobit offers one-tap payment optionality for cryptocurrencies directly from noncustodial wallets, like MetaMask and Phantom, at any merchant that accepts Visa. The platform features a decentralized “DePay” payment layer that acts like a bridge between onchain crypto settlements and traditional Visa networks, automatically converting crypto to fiat at the point of sale.
Phantom users will retain full control of their funds until the moment they approve a transaction. Payments are “executed directly from the wallet with no pre-transfers, no bridging, and no intermediaries involved,” the firms noted.
“When a user sends stablecoins as payment, the amount is deducted from their wallet in real time, converted into fiat, and deposited directly into the merchant’s bank account. The transaction settles instantly,” they added.
The press release notes that Oobit’s DePay is active in Brazil, South Korea, the Philippines, Thailand, and the United States, representing some of Phantom’s largest markets. In December, the tap-to-pay payments startup partnered with Bakkt to expand coverage across all 50 states.
Of note, Solana co-founder Anatoly Yakovenko was a co-lead in Oobit’s $25 million Series A funding round alongside Tether, CMCC Global, and 468 Capital. The rebranded OOB token was migrated to Solana from Ethereum in late 2025.
In November, Malaysia-based tech consulting services firm VCI Global announced a $100 million investment in OOB tokens and plans to manage Oobit’s digital treasury, an arrangement that would make Tether a major stakeholder in VCI, it said at the time.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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