Oobit extends crypto-to-fiat payments platform to South Africa

The company’s expansion introduces a blockchain-based payment workflow that allows crypto users to transact while merchants receive local currency.

Oobit CEO Amram Adar, 

Oobit has expanded its crypto payments platform to South Africa, introducing a system that enables consumers to transact in digital assets while merchants are paid in fiat currency. The mobile app, available on iOS and Android, routes transactions through Visa’s infrastructure, allowing users to make in-store and online payments in a format similar to existing tap-to-pay methods.

Beyond its geographic expansion, Oobit positions itself as a bridge between the crypto economy and everyday commerce. Its platform is designed to simplify digital asset payments by removing volatility and usability barriers, enabling consumers to spend crypto as easily as traditional money while ensuring merchants face no operational or financial risk.

The platform processes settlement in the background: customers pay with crypto or stablecoins, and merchants receive funds in their local currency. Users maintain control of the assets they hold, from storage to transaction initiation.

South Africa becomes one of several markets added to Oobit’s global rollout. The company recently launched operations in Brazil and expanded to Thailand and the Philippines, positioning its network across Latin America and Asia.

The expansion occurs as payments technology continues to attract interest within the fintech sector. A KPMG report released earlier this year indicated that payments remained the largest segment for investment in 2024, followed by digital assets and regtech. Funding activity in Africa has also shown signs of recovery. Data from Further Africa indicates that fintech companies on the continent raised approximately $640 million between January and July 2025.

Oobit’s model aligns with areas highlighted in these reports: crypto-based payments and stablecoin usage. The company is backed by Tether, issuer of the USDT stablecoin, which already has notable adoption within parts of South Africa’s digital payment ecosystem.

Commenting on the launch, Oobit CEO Amram Adar stated that the integration of stablecoin-based payments offers users a way to transact with digital assets in ordinary retail contexts.

South Africa’s regulatory discussions also form part of the backdrop for the expansion. The Financial Sector Conduct Authority (FSCA) recently noted that alternative digital payment methods are gaining traction, in part due to gaps in access to traditional banking services. According to an FSCA survey, a portion of the population relies on digital wallets and decentralized finance tools for payments, credit and investment products typically limited in the conventional financial system.