Integration allows Brazilian Pix users to convert local currency to USDT and transfer stablecoins via payment networks.
Tether-backed payments app Oobit has integrated USDT with Brazil’s Pix network, granting nearly 170 million users access to the stablecoin. The move enables conversions between local currency and USDT, as well as transfers between self-custody wallets and bank accounts.
Pix, Brazil’s instant payment system, processes billions of transactions monthly. Oobit’s integration expands USDT utility beyond traditional crypto exchanges, leveraging networks like SEPA, ACH, and SPEI for cross-border settlements.
The development follows growing demand for stablecoin adoption in Latin America, where inflation and currency volatility drive crypto usage.