Tether-backed Oobit integrates Brazil’s Pix payment network

The feature enables users to send USDT to any Pix key or scan a QR code for instant top-ups, while blockchain settlement occurs discreetly in the background. According to Oobit advisor Alex Obchakevich, the goal is to maintain an experience identical to the standard Pix flow already embedded in the country’s daily commerce. By bridging stablecoin balances with a network that processed BRL 11 trillion in 2024, the company aims to simplify crypto-to-fiat utility.

This rollout arrives as Brazilian regulators tighten oversight on how digital assets interface with the broader financial system. While the central bank recently restricted the use of crypto within regulated cross-border eFX rails, the move does not prohibit domestic stablecoin transfers. With stablecoins now accounting for 40% of regional crypto purchases, Brazil remains a primary market for users seeking dollar-pegged assets to hedge against inflation. Oobit’s expansion follows a $25 million Series A round led by Tether in 2024, which also included backing from Solana co-founder Anatoly Yakovenko.