Cryptocurrency payments service provider Oobit, which is backed by Tether and Solana, has applied for a license in the United Arab Emirates (UAE) and plans to open an office in Abu Dhabi. The company aims to expand into the Middle Eastern market and align with the forward-thinking regulatory environment in the region. Oobit's goal is to create a seamless and trusted crypto ecosystem and offer innovative services to a wider audience by being licensed in the UAE. The company has integrated Visa and Mastercard's global network into its app, allowing users to make crypto-to-fiat payments at over 100 million locations worldwide. In February 2024, Oobit raised $25 million in a Series A funding round led by Tether.



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