VeChain has teamed up with Oobit, resulting in the integration of VET into Oobit’s Tap & Pay feature, which allows convenient payments using the VET token at merchant stores. This partnership makes VET the sixth cryptocurrency supported by Oobit. Sunny Lu, the founder of VeChain, described the collaboration as a significant step toward associating blockchain technology with positive societal impact.
VeChain and Oobit announced their partnership this week, expressing their enthusiasm for joining forces to promote crypto payments. Oobit, a leading mobile payment app that supports crypto payments globally, will integrate VET into its payment systems, expanding its support for cryptocurrencies to six tokens.
The partnership between VeChain and Oobit goes beyond mere collaboration, as the two entities are working on developing new products together. In a press release, they described their collaboration as a significant leap toward advancing the adoption of cryptocurrencies for sustainable everyday payments.
Oobit, which has become a key player in the crypto payments space, was founded in 2017 and utilizes existing point-of-sale systems offered by Visa and Mastercard, reaching over 100 million supported merchants worldwide.
Commenting on the partnership, Oobit CEO Amram Adar stated that the integration of VET for tap payments solidifies their mission to reshape how people interact with digital assets. He sees this partnership as more than just a technological integration but also a bold step toward a future where every transaction contributes to sustainability.
Cryptocurrencies have been seen as a potential solution to the global payment problem, but they have faced challenges, such as high fees and outages. Oobit aims to address these challenges by providing a smooth payment experience. VeChain founder Sunny Lu sees the integration of VET as a significant milestone for the project and believes it will contribute to making blockchain technology synonymous with positive societal impact.
In addition to its payment ventures, VeChain has been actively involved in sustainability initiatives. The network has partnered with organizations like the UN and the Boston Consulting Group to drive sustainability efforts, resulting in impressive results. The partnership with the UN alone has saved three million kilograms of carbon dioxide and nine million gallons of water.
Overall, the partnership between VeChain and Oobit brings VET to a wider user base and strengthens the mission of both companies to promote sustainable and efficient blockchain-based payments.