- VeChain’s VET token is now accepted at over 100 million retailers worldwide through a partnership with the Oobit mobile payment app on iOS.
- This integration, along with a collaboration with Alchemy Pay, significantly boosts VET’s accessibility and promotes sustainable crypto usage.
n a groundbreaking partnership between VeChain and Oobit, the VeChain token (VET) can now be accessed on iOS and transacted with over 100 million retailers globally. This significant development highlights VeChain’s growing influence and adoption in the crypto market, marking a pivotal step toward mainstream usage.
VET’s Integration with Oobit
According to a report shared by blockchain researcher Collin Brown, VET is now available for payment on iOS via the leading mobile payment app Oobit. This integration allows crypto holders to tap and pay using VET at more than 100 million retailers worldwide. The collaboration between VeChain and Oobit aims to integrate VET into Oobit’s platform, facilitating seamless transactions and enhancing the asset’s accessibility.
Promoting Sustainable Crypto Use
This partnership not only drives mass adoption but also encourages sustainable implementations of crypto technology. VeChain’s CEO, Sunny Lu, emphasized that the partnership enhances positive societal impact beyond technological advancements. Lu stated, “VeChain is excited to partner with Oobit, merging our commitment to ESG initiatives with Oobit’s innovative approach. The integration of VET into Oobit’s platform is not just a technological enhancement; it’s a tangible step towards making blockchain technology synonymous with positive societal impact.”
Expanding VeChain’s Reach
In addition to its partnership with Oobit, VeChain has also collaborated with Alchemy Pay (ACH) to make VET accessible at over 2 million stores worldwide. This move aims to bolster adoption rates and enhance VET’s utility as a payment method. Lu explained, “The integration of VET into Alchemy Pay’s crypto-payment system is important in further expanding the real-world use cases for VET as a form of payment. By enabling mainstream payment standards like Visa, Mastercard, and PayPal using Alchemy Pay, the mainstream adoption of VET will increase by making direct access possible, bypassing the complications of crypto exchanges that can be a barrier for many new users.”
Oobit’s Strategic Expansion
Oobit’s integration of VET aligns with its broader strategy to expand its payment ecosystem. Supported by $25 million secured in a Series A funding round, Oobit is adding more crypto assets to its platform. Oobit’s CEO, Amram Adar, highlighted the significance of this integration, stating, “The integration of VET for tap payments on Oobit solidifies our mission in reshaping how we interact with digital assets. This partnership signifies more than a technological integration; it’s a bold step towards a future where every transaction contributes to sustainability.”
📢 Big news, #VeChain fans! 🌍 You can now use $VET to pay at 100M+ retailers globally with @Oobit on iOS! 🍏✨ Experience the future of payments right from your iPhone. 🚀🚀🚀https://t.co/CpalXYLsi8 pic.twitter.com/pV2jdEE8Hg
— Collin Brown (@CollinBrownXRP) September 6, 2024
Market Performance and Future Prospects
Despite recent market fluctuations, with VET trading at $0.020 after a 7% decline in the last seven days and a 10% decline in the last 30 days, the token’s 24-hour trading volume has surged by 51%, with $20 million changing hands. This robust trading activity underscores the growing interest and confidence in VET’s long-term potential.
The partnership between VeChain and Oobit represents a significant milestone in VET’s journey towards mainstream adoption. By enhancing accessibility and promoting sustainable crypto use, VeChain is poised to make a lasting impact on the blockchain ecosystem.
