Oobit has launched a new feature that allows users to send crypto directly from self custody wallets to bank accounts worldwide with near instant settlement.
Key Takeaways
- Oobit now enables crypto to bank transfers through SEPA, ACH, and SPEI payment networks.
- Users can see exact crypto outflow and fiat inflow before confirming transactions.
- The system bypasses traditional correspondent banking and SWIFT delays.
- The infrastructure is powered by Distributed Technologies Research, which is set to be acquired by Bakkt.
What Happened?
Tether backed crypto payments platform Oobit has introduced instant crypto to bank transfers, allowing users to send supported digital assets from self custody wallets directly into bank accounts worldwide. The service settles through local payment networks including SEPA in Europe, ACH in the United States, and SPEI in Mexico.
The rollout expands Oobit beyond its existing in store payments and peer-to-peer transfers, positioning the app as a broader payments and settlement layer between blockchain networks and traditional banking systems.
Crypto works perfectly onchain.
— Oobit (@oobit) February 24, 2026
It gets stuck the moment it meets a bank.
Now it does both 🎉
🥁Today, we’re launching real time crypto-to-bank transfers in the Oobit app.
What just changed:
↳ Funds arrive in seconds, not days.
↳ Transfer could be sent to yourself or… pic.twitter.com/5yQnAVDXyh
Direct Crypto to Bank Settlement Goes Live
Founded in 2017, Oobit has built its brand around enabling crypto payments in everyday settings through tap to pay features on iOS and Android devices. The company integrates with non custodial wallets such as Base, Binance, MetaMask, and Phantom, allowing users to spend digital assets while merchants receive instant fiat payouts through Visa rails.
With the new update, users can now send crypto directly to any bank account worldwide without moving funds to a centralized exchange.
Supported settlement currencies currently include:
- US dollars
- Euros
- Mexican pesos
- Philippine pesos
On the crypto side, the platform supports major assets such as Bitcoin, Ether, USDT, USDC, EURC, EURR, XRP, BNB, Solana, Cardano, Dogecoin, and a wide range of additional tokens. More markets are expected to launch soon.
How the System Works?
According to the company, the key differentiator lies in its settlement layer.
When a user initiates a transfer, they can see in real time exactly how much crypto leaves their wallet and how much fiat will arrive in the recipient’s bank account before confirming the transaction. The company states there are no hidden conversions and no surprise fees.
Once confirmed, the transaction settles in seconds through domestic payment networks rather than through traditional correspondent banking systems.
Unlike many checkout based off ramp providers that redirect users to third party services, Oobit embeds the full transfer flow inside its own app. This means the end user relationship, wallet custody, and transaction experience remain within Oobit’s ecosystem.
Oobit performs the initial crypto to USD conversion. The USD equivalent value is then transferred in USDT to Distributed Technologies Research for payout execution. DTR handles the foreign exchange conversion into local fiat currency before settlement into the designated bank account.
Importantly, DTR does not hold user funds for investment or discretionary purposes. It acts strictly as a routing layer between blockchain networks and traditional financial rails.
DTR Infrastructure and Bakkt Acquisition
The new transfer capability is powered by infrastructure from Distributed Technologies Research. The company recently entered into an agreement to be acquired by Bakkt, a US listed digital asset platform launched by Intercontinental Exchange in 2018. Bakkt trades publicly under the ticker BKKT.
Akshay Naheta, Founder and CEO of DTR and CEO of Bakkt, said in the release:
Amram Adar, Co Founder and CEO of Oobit, emphasized the company’s non custodial approach:
Growing Competition in Crypto Off Ramps
The launch comes as competition intensifies in the crypto off ramp market. Exchanges and fintech firms are racing to offer seamless ways for users to convert digital assets into fiat deposits.
Oobit positions itself differently by focusing on self custody wallets, aiming to connect onchain assets directly to bank accounts without requiring users to park funds on centralized exchanges. For freelancers, digital nomads, businesses, and diaspora communities, the model could significantly reduce transfer times and costs that previously reached up to 7 to 10 percent and took several days.
The company previously raised a 25 million dollar Series A round led by Tether. Malaysia based VCI Global also announced a 100 million dollar investment in OOB tokens and plans to manage Oobit’s digital treasury.
CoinLaw’s Takeaway
In my experience, the real bottleneck in crypto adoption has never been buying tokens. It has been getting money back into the traditional system quickly and cheaply. I found that many off ramp solutions still feel clunky or expensive.
Oobit’s approach stands out because it keeps users in self custody while offering near instant settlement into real bank accounts. If the infrastructure truly scales across more regions, this could mark a serious step toward making crypto function like everyday money rather than just an investment asset.
