Tether-backed Oobit brings USDT payments to Brazil’s Pix network

Tether-backed payments app Oobit has integrated Brazil’s Pix payment network, giving users a new way to move between reais and USDT. 

The company said users can deposit Brazilian reais into Oobit, hold funds in Tether’s dollar-pegged stablecoin, and spend through Pix.

The feature connects Oobit to one of the world’s largest instant payment systems. Pix, created by Banco Central do Brasil in 2020, has nearly 170 million users and processed BRL 11 trillion in transactions in 2024.

Stablecoin spending follows a familiar payment flow

Oobit said the product keeps the user experience close to the Pix flow that Brazilians already use. Users can send funds to a Pix key, scan a QR code, or top up through the app while blockchain settlement runs in the background.

“Send USDT to any PIX key, scan a QR, top up instantly,” said Oobit advisor Alex Obchakevich. He said the experience looks like the Pix flow users already know from banking apps.

The setup may appeal to users who want dollar exposure without leaving a local payment habit. USDT remains the largest U.S. dollar-pegged stablecoin by market use, and Brazil has become one of Latin America’s busiest stablecoin markets.

Brazil’s stablecoin market remains active

The launch comes as Brazil reviews how crypto and stablecoins fit into its financial system. As previously reported by crypto.news, Brazil’s central bank blocked virtual assets from settling inside regulated eFX cross-border payment rails in May.

That rule did not ban crypto transfers across Brazil. It limited the use of crypto and stablecoins inside supervised international payment channels. The move showed that regulators want more control over stablecoin-linked flows.

In a previous article, crypto.news discussed how stablecoins surpassed Bitcoin in Latin American crypto purchases in 2025. Bitso data showed stablecoins made up 40% of crypto purchases across the region, compared with 18% for Bitcoin.

The same report said users in inflation-hit markets often use dollar-pegged assets to store value and send payments. Brazil fits that pattern, with local users showing steady interest in digital dollars and instant payments.

Oobit expands after Tether-led funding

Oobit raised $25 million in a Series A round in 2024. Tether led the round, with support from CMCC Global’s Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko.

Tether said at the time that Oobit’s app lets crypto holders tap and pay at more than 100 million retailers that accept Visa and Mastercard.

The Pix rollout gives Oobit a stronger local use case in Brazil. Instead of asking users to learn a new payment system, the app links stablecoin holdings to an instant payment rail that already works across everyday commerce.

Oobit is not the only firm testing stablecoins in Brazil. In a recent update, crypto.news covered Nubank’s plan to test U.S. dollar-pegged stablecoin payments through credit cards. Circle has also worked with Nubank to expand USDC access in Latin America.