KEY FACTS: Oobit, a Tether-backed mobile crypto payments app, has launched a feature allowing users to transfer cryptocurrencies directly from self-custody wallets to bank accounts worldwide, converting digital assets into local fiat currencies deposited via domestic payment networks such as SEPA in Europe, ACH in the United States, and SPEI in Mexico. Powered by infrastructure from Distributed Technologies Research (DTR), the service supports major cryptocurrencies including Bitcoin (BTC), Ether (ETH), Tether (USDT), USDC, and others like XRP, Solana (SOL), and Dogecoin (DOGE), with settlements often occurring in seconds and fiat options including USD (domestic US only), euros, Mexican pesos, and Philippine pesos. Funds remain in user-controlled wallets until transfer initiation, at which point Oobit converts to USD-equivalent value (transferred as USDT to DTR for final FX and payout), preserving full custody and app-native experience without external redirects. Fees combine Oobit's structure (greater of $1 or 1% plus ~0.5% spread) with DTR's variable charges, while limits range from modest minimums to highs around $50,000 equivalent depending on region.
Source: Oobit
Oobit, a mobile payments platform backed by Tether, the issuer of the world's largest stablecoin, USDT, has rolled out a new feature that allows users to transfer digital assets directly from self-custody wallets to bank accounts worldwide. The innovation enables seamless conversion of crypto into fiat currency deposited via familiar local payment rails, bypassing slower and more expensive traditional correspondent banking channels.
Announced on Tuesday, February 24, 2026, the crypto-to-bank transfer service expands Oobit's capabilities beyond its core offerings of retail spending and peer-to-peer transfers using crypto. Users can now send supported cryptocurrencies from their own wallets, with the equivalent value arriving in local fiat currencies such as US dollars, euros, Mexican pesos, and Philippine pesos directly into recipient bank accounts. This functionality is powered by infrastructure from Distributed Technologies Research (DTR), a provider specializing in connecting digital asset platforms to domestic payment networks. DTR is currently in the process of being acquired by Bakkt, the publicly listed digital asset company known for its efforts to integrate crypto with traditional finance.
The new transfers leverage established local systems for faster and more efficient settlement. In Europe, transactions route through SEPA (Single Euro Payments Area); in the United States, they use ACH (Automated Clearing House); and in Mexico, SPEI (Sistema de Pagos Electrónicos Interbancarios) handles the payouts. This approach allows for quicker processing, often in seconds or near-instant, compared to conventional cross-border methods.
Oobit supports a wide range of cryptocurrencies for these transfers, including major ones like Bitcoin (BTC), Ether (ETH), and popular stablecoins such as Tether (USDT), USD Coin (USDC), EURC, and EURR. Additional tokens include XRP, BNB, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE). The process begins with Oobit handling the initial conversion of the selected crypto into a USD-equivalent value, which is then transferred in USDT form to DTR. From there, DTR performs any necessary foreign exchange into the target local currency and executes the deposit to the designated bank account.
A key emphasis in the rollout is on maintaining user control and security. Funds remain in the user's self-custody wallet within Oobit's infrastructure until the transfer is initiated. Only at that point are they debited and passed to DTR exclusively for payout execution, DTR does not hold or invest the funds for any other purpose. This structure ensures that the end-user relationship, wallet custody, and overall transaction experience stay entirely within the Oobit app, without redirects to external off-ramp services.
Amram Adar, co-founder and CEO of Oobit, highlighting the user-centric design, mentioned that end-user relationship, wallet custody, and transactions remain entirely within Oobit. He further clarified that user funds are initially held within Oobit’s wallet infrastructure. This means that when a bank transfer is initiated, funds are debited and transferred to DTR strictly for payout execution.
Fees for the service include a structure from Oobit, typically the greater of a fixed $1 or 1% of the transaction value, plus an estimated 0.5% spread on the crypto-to-USD conversion. DTR adds its own charges, ranging from fixed amounts as low as 0.65 cents to around 2 euros, or percentage-based fees between 0.65% and 1%, depending on the currency and corridor. Transfer limits vary by region, with minimums starting from roughly 10 euros (about $11.70) to $100 equivalent, and maximums reaching up to approximately $50,000 equivalent in some cases.
The feature is now fully live across all countries supported by DTR's infrastructure, with no phased pilot programs mentioned. For US dollar transfers, the service is restricted to domestic flows within the United States.
Oobit's service is unveiled at a time where there is intense competition in the crypto off-ramping space, where platforms and fintech companies vie to make digital assets more usable in everyday finance. Similar efforts include Visa's settlements using USDC, Crypto.com's integrations for USD transfers via Circle, and other initiatives focused on regulated crypto-fiat bridges. Oobit is prioritizing self-custody wallets and native app experiences to position itself as a differentiated player in enabling on-chain assets to flow directly into traditional banking without requiring users to relinquish control to centralized exchanges.
Backed by Tether and having previously raised $25 million in Series A funding, Oobit continues to build on its mission to create a global payments layer powered by stablecoins and other cryptocurrencies. This latest expansion could accelerate mainstream adoption by making it simpler for crypto holders to access fiat liquidity in their local banking systems.
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