Oobit Rolls Out Stablecoin Payment Service in South Africa

Global payments platform Oobit has entered the South African market, enabling consumers to settle purchases with stablecoins at more than 100 million merchants worldwide that accept Visa. The launch follows the company’s recent roll-outs in the Philippines, Thailand and Brazil and supports its objective of making stablecoin spending possible wherever Visa is accepted.

The service allows users to link any self-custody cryptocurrency wallet to the Oobit app and pay for goods or services in-store, online or across borders. When a transaction is authorised, Oobit’s decentralised settlement layer, known as DePay, triggers a smart contract that executes the payment on-chain without gas fees. The platform immediately converts the stablecoin—most commonly USD-pegged assets such as USDT—into local fiat currency through regulated Visa rails. Merchants receive the fiat proceeds instantly, while customers retain full control of their wallets and can earn up to 10% cashback in eligible digital currencies on qualifying purchases.

Addressing local payment challenges

Oobit positions its South African entry as a response to several regional factors, including demand for efficient cross-border remittances, concerns about inflation and the search for broader access to financial services. The company notes that capital controls have traditionally limited direct consumer spending of digital assets in South Africa. By converting stablecoins to rand at the point of sale and keeping settlement within existing card-network infrastructure, Oobit aims to comply with current financial regulations while removing the need for merchants to adjust their operations.

South Africa joins a growing list of countries where stablecoins are gaining traction as everyday payment instruments. Data from the International Monetary Fund show that the country maintains exchange-control measures intended to manage currency flows, a framework that can complicate international purchases and remittances. Oobit’s model seeks to bypass those frictions by finalising settlements in fiat currency while keeping the consumer side of the transaction entirely crypto-denominated.

Technical framework

Central to the new service is DePay, the company’s gasless settlement layer. Users initiate transactions directly from their self-custody wallets; no custodial account is required. Once the user approves a purchase request, DePay’s smart contract settles the payment on-chain and concurrently triggers a stablecoin-to-fiat conversion. Because the process leverages Visa’s existing payment rails, merchants receive immediate local-currency deposits and are shielded from cryptocurrency price volatility. Oobit states that this structure also keeps processing fees low for consumers, who pay almost no network charges.

The cashback function is designed to encourage adoption. Eligible transactions generate digital-currency rebates of up to 10%, credited to the user’s wallet. The company indicates that specific rates and currencies depend on promotion periods and partner arrangements.

Expansion strategy

The South African deployment is part of a broader expansion roadmap focused on markets where stablecoins already serve practical needs such as remittances and inflation hedging. Oobit entered the Philippines earlier in 2025, followed by Thailand and Brazil. Each addition extends the reach of the firm’s spend-anywhere proposition by tapping into Visa’s global acceptance network.

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Beyond geographic growth, Oobit is also building out technical partnerships. The company recently integrated with Stable, a Layer-1 blockchain designed for stablecoin transactions. Through that alliance, users holding USDT on the Stable network can transact at more than 80 million merchants across regions including South Korea, Argentina, the United States, Singapore, Nigeria and the United Arab Emirates. The Stable integration runs in parallel with Oobit’s DePay layer, broadening merchant access without requiring additional hardware or software on the merchant side.

Competitive landscape

Oobit’s approach enters a South African payments sector that already features mobile money services, digital wallets and traditional banking apps. By focusing on self-custody wallets and immediate stablecoin-to-fiat conversion, the company aims to differentiate itself from custodial crypto cards and exchange-based debit products. The model emphasises user sovereignty over funds while maintaining compatibility with established payment infrastructure.

Although the platform relies on Visa rails today, Oobit indicates that its technology can be adapted to additional card networks or alternative payment systems if market conditions warrant. The company has not disclosed specific timelines for further integrations but maintains that scalability and regulatory compliance remain core priorities.

Outlook

With the South African launch in place, Oobit continues to target regions where stablecoins already function as de facto transactional currencies. The firm contends that combining wallet autonomy, negligible fees and cashback incentives creates a practical alternative to both conventional banking and custodial crypto payment products. As adoption grows, Oobit plans to expand its list of supported assets and to introduce additional features meant to streamline on-chain spending in everyday settings.

Crédito da imagem: Electronic Payments International