- Oobit and VeChain have partnered to integrate the VeChain Token (VET) into Oobit’s platform, enabling users to make sustainable cryptocurrency payments.
- This collaboration aims to advance the adoption of digital assets for everyday transactions while promoting environmental, social, and governance (ESG) initiatives.
In a landmark collaboration, Oobit, a leading mobile payment app, and VeChain, the curator of VeChainThor, have teamed up to integrate the VeChain Token (VET) into Oobit’s platform. This strategic partnership marks a significant step forward in the mainstream adoption of cryptocurrencies for everyday transactions, while also advancing sustainability initiatives.
Singapore — March 6, 2024 — Oobit’s integration of VET into its Tap & Pay feature empowers users to seamlessly utilize digital assets for their day-to-day purchases. With 72.7 billion VET tokens already in circulation out of 85.9 billion, this integration amplifies VET’s utility, making it the sixth token supported on Oobit’s platform.
VeChain’s commitment to environmental, social, and governance (ESG) initiatives is evident in this collaboration. Through the integration, users can participate in sustainability-focused decentralized applications (dApps) such as VeBetterDAO, earning $B3TR tokens as incentives. This innovative approach transforms everyday transactions into a force for good, aligning with VeChain’s vision of leveraging blockchain technology for positive societal impact.
Sunny Lu, CEO of VeChain, expressed enthusiasm about the partnership, highlighting its significance beyond technological enhancement. He emphasized the integration’s role in advancing blockchain technology as a catalyst for societal change.
VeChain’s ‘Blockchain Biosphere’ concept, detailed in the ‘Web3 for Better’ whitepaper developed with the Boston Consulting Group, underscores the potential of blockchain ecosystems to address sustainability challenges across industries. From carbon capture in energy to enhancing global logistics, VeChain’s initiatives exemplify its commitment to driving sustainable practices worldwide.
Oobit’s recent Series A funding round, securing $25 million, solidifies its position as a key player in the cryptocurrency payment space. With support from notable investors like Anatoly Yakovenko, co-founder of Tether and Solana, Oobit continues to expand its payment ecosystem through strategic token integration.
Amram Adar, CEO of Oobit, emphasized the partnership’s significance in reshaping digital asset interactions. He highlighted the integration as a bold step towards a future where every transaction contributes to sustainability.
The initial rollout of Oobit’s Tap & Pay feature in Europe, catering to Android users, signals a broader shift towards sustainable crypto transactions. By integrating VET into everyday payments, VeChain and Oobit not only promote cryptocurrency adoption but also encourage users to engage in environmentally conscious practices.
This collaboration underscores a global trend towards ESG principles, particularly in regions like Europe, where regulatory frameworks like MiCa prioritize transparency achievable through blockchain technology.
The integration of VET into Oobit’s platform signifies a pivotal moment in the evolution of cryptocurrency payments. By combining technological innovation with sustainability initiatives, VeChain and Oobit are paving the way for a future where crypto transactions drive positive change on a global scale.
