Tether, the self-described “largest company in the cryptocurrency industry,” recently led a $25 million Series A investment round in Oobit. Tether was joined in this investment by Anatoly Yakovenko, the co-founder of Solana, as well as CMCC and 468 Capital.
Oobit is a Lithuania-registered firm that lists a contact address in Singapore, and is led by chief executive Amram Adar. Adar’s LinkedIn reveals that before his role at Oobit, he served in the Israeli navy special forces, and appears to still be based out of Tel Aviv.
Adar also worked with Oobit chief operating officer Aharon Miller at WaveTech, which appears to have been an Israeli headquartered blockchain development firm.
Oobit chairman Moshe Schlisser is also a managing partner at Shefa Capital and was also an investor in Cross River Bank, which previously announced its transition to a ‘crypto-first’ strategy. Schlisser is also a director for Yourasset AG, a Swiss firm that enables you to “pay for your next luxury watch over 12 to 48 months.”
Paolo Ardoino, the CEO of Tether, believes that Oobit “stands as a catalyst, breaking down barriers and facilitating frictionless transactions for crypto holders worldwide.”
The Context: 🌐 Tether investments and partnerships
Less than 1% of Tether’s money is cash, so why’s it buying so many companies?
Latest from @BennettTomlin
Subscribe and read 👉 https://t.co/q22TtStMyd pic.twitter.com/SvT9rAUZ00
— Protos (@Protos) June 2, 2023
Read more: Tether forms ‘alliance’ with former sister firm, rhino.fi fka Ethfinex
Oobit joins other recent investments by Tether, including into Georgian payments processor CityPay.io. Tether has also recently announced “payment collaboration” with Argentinia-based KriptonMarket.
Read the full article here
