Oobit links USDT to Brazil’s 170M PIX users

Oobit, a cryptocurrency platform supported by Tether, will enable nearly 170 million users of Brazil's PIX instant payment network to buy and hold USDT. The company announced the integration as a way for PIX account holders to access the dollar-pegged token through familiar payment rails.

Under the arrangement, Brazilians can move Brazilian reais via PIX to Oobit and receive USDT in their Oobit account. The process uses PIX's instant transfer rails to convert local currency into the stablecoin on the platform.

PIX is an instant payments system created and regulated by the Central Bank of Brazil. It allows transfers at any time, including weekends and holidays, and has reached nearly 170 million registered users since its launch.

USDT is a stablecoin issued by Tether and designed to maintain a 1:1 peg with the U.S. dollar. Market participants commonly use USDT for trading and settlements in cryptocurrency markets.

Tether's backing of Oobit connects the issuer of USDT with a platform that offers direct access to the stablecoin for PIX users. The partnership links an internationally used digital asset to Brazil's domestic payments infrastructure.

The rollout comes as cryptocurrencies attract greater attention from consumers and financial regulators in Brazil. Oobit has not published full details on fees, custody arrangements or the exact timing of availability nationwide; users should consult Oobit's platform for operational information.