1 hour ago
2
Oobit, a Singapore-based crypto payments app backed by Tether, has launched real-time wallet-to-bank transfers through Brazil’s PIX instant payment system. The integration lets users send USDT and other stablecoins from self-custody wallets directly into Brazilian bank accounts, settled in Brazilian Reais.
PIX, created by Brazil’s central bank in November 2020, has become one of the most widely adopted digital payment networks on the planet. It now reaches approximately 178 million registered users, covering roughly 91% of Brazilian adults.
From beta to bank accounts
Oobit first entered Brazil around October 2025, arriving with more than 50,000 pre-launch users already signed up. The PIX integration rolled out in late February 2026, turning the app from a crypto spending tool into a fiat off-ramp with near-zero friction.
During Oobit’s testing phase in Brazil, 92% of all transactions processed were stablecoin spending. USDT alone accounted for 86% of that volume.
The app’s DePay feature extends this functionality globally, enabling tap-to-pay transactions at more than 150 million Visa merchants worldwide. Users maintain custody of their assets in self-operated wallets throughout the process, meaning they don’t need to park funds on an exchange or trust a centralized custodian to spend their crypto.
Brazil’s stablecoin appetite
Oobit isn’t alone in recognizing this opportunity. Bitget Wallet, Bybit Pay, and KuCoin Pay have all integrated similar PIX functionality, creating competing bridges between stablecoins and Brazil’s real-time payment rails.
What this means for investors
For Tether, which backs Oobit, this is a distribution play. Every time a Brazilian user converts USDT to Reais through PIX, it reinforces USDT’s position as the default stablecoin for emerging market transactions.
The self-custody angle adds another layer. Traditional fintech off-ramps typically require users to deposit funds into a platform-controlled account before converting. Oobit’s model, where assets remain in user wallets until the moment of transaction, removes a trust barrier that has historically slowed crypto-to-fiat adoption. It also reduces the company’s regulatory surface area, since it never takes custody of user funds.
Brazil’s central bank has been actively developing its own central bank digital currency, the Drex, which could eventually compete with stablecoins for the same domestic payment use cases. With 50,000 pre-launch users against PIX’s 178 million registered accounts, the addressable market is enormous, but so is the gap between current traction and the scale needed to become a default payment layer.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) · 