Oobit
| Type of business | Private |
|---|---|
| Founded | 2017 |
| Headquarters | Singapore |
| Area served | 200+ countries |
| Founder(s) | Amram Adar Aharon Miller |
| Key people | Eric Song, Moshe Schlisser, Philip Katz |
| Industry | Cryptocurrency |
| Products | Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether |
| Website | www |
Oobit is a simple user-facing platform offering users access to Bitcoin, Bitcoin Cash, Ethereum, USDT (Tether), and many other cryptocurrencies in approximately 32 countries, and Bitcoin transactions and storage in 200+ countries worldwide.[1] The platform offers users a straightforward way to instantly buy, sell, and store digital assets, using their top-of-the-range storage solutions. Designed to allow users to use crypto with the same ease as traditional money, Oobit is a convenient option for both professional traders and those new to the industry.
History
Oobit was founded in January 2017 by Amram Adar and Aharon Miller. Eric Song was also part of the original founding team together with Moshe Schlisser from Shefa Capital.[2] The remaining founding team joined in May 2017, which included Oobit’s CTO Philip Katz and COO Chris Huang.
In August 2017, the company launched its first service to buy and sell Bitcoin through P2P trading. Oobit’s first version launched as a simple peer-to-peer (P2P) trading platform, building a safe community where users could buy and sell Bitcoin with each other.
In June 2018, Oobit decided to build a new web-based platform that identifies trading opportunities across all sources of liquidity, thus bringing visibility and trust to the entire cryptocurrency ecosystem.
The new platform was put into development, and in February 2019, Oobit launched their latest offering. It created reliable access to a larger pool of liquidity, letting its users enjoy freedom and flexibility to buy, sell, and use their crypto online instantly.
In December 2019, Oobit announced that it had partnered with UK-based payment processor Moonpay to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard. Users in 200+ countries could then instantly buy Bitcoin with their local bank card.
In February 2020, the platform conceptualized an Oobit Card that will allow users to seamlessly spend their cryptocurrency through a mainstream debit card. The idea shortly thereafter went into development and is expected to be launched in 2021.[3]
In June 2020, Oobit announced that it had partnered with Israel-based payment processor Simplex to enable both small and large-scale cryptocurrency purchases and sales. Large-scale cryptocurrency trades can be made via bank transfer to a limit of $50,000, while small-scale trades can be made with debit and credit cards, including Visa and Mastercard. The purchases are subject to Simplex’s local bank policies and are limited to Bitcoin, Ethereum, Litecoin and Ripple’s XRP.
In September 2020, Oobit obtained its European and Singaporean license as a virtual currency wallet service. Oobit has legal entities in various locations throughout the world in order to service 200+ jurisdictions in the most efficient manner. Oobit is in compliance with all applicable global and local regulations.
In October 2020, Oobit announced a new partnership with leading blockchain cybersecurity company GK8. Incorporating their revolutionary storage solutions on the platform, Oobit users have access to their cold vault technology. This patented air-gapped vault technology allows for all digital assets to remain offline in regulated custody while still being able to facilitate blockchain transactions. Oobit custody assets are insured up to $500 million.
Products
Oobit users can buy/sell Bitcoin as well as several different cryptocurrencies, including Ethereum, USDT, Ripple’s XRP, and more, with a credit card, debit card, or bank account in 180 countries worldwide.
As of 2020, the company offers regulated custody, 100% secure online wallet service by military-grade physical protection, and insured up to $500 million.
The company is currently developing the Oobit Card, which gives users access to cash out and spend their digital assets in 40 million stores and ATMs worldwide.
Oobit offers users a KYC Pass option, that allows them to use the same KYC verification across several partnered platforms.[4] The KYC process on Oobit is streamlined through the use of Optical Character Recognition (OCR) and facial liveness detection.[5]
References
- ↑ Oobit. https://www.oobit.com/
- ↑ Dale, O. (2020, April 21). Guide to Oobit: A Multifunctional Gateway to Cryptocurrency Services. Blockonomi. https://blockonomi.com/oobit-guide/
- ↑ Fitzpatrick, L. (2020, April 11). Oobit Releases A Coinbase-Powered “Skyscanner” For Bitcoin. Forbes. https://www.forbes.com/sites/lukefitzpatrick/2020/04/11/oobit-releases-a-coinbase-powered-skyscanner-for-bitcoin/#6f93416c1c6b
- ↑ Haig, S. (2020). Oobit Launches ‘SkyScanner for Bitcoin Trading’ Called Hunter. CoinTelegraph. https://cointelegraph.com/news/oobits-skyscanner-for-bitcoin-trading-fails-to-meet-expectations
- ↑ (2020). Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway. AccessWire. https://www.accesswire.com/584725/Coinbase-powered-Oobit-Launches-Crypto-SkyScanner-Equivalent-with-Integrated-Fiat-Gateway
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