Oobit, the Tether-backed payments platform, has rolled out a new feature that lets verified users withdraw physical cash from their crypto balances at NFC-enabled ATMs without needing a bank account or a physical card. The service is now live across Oobit's supported markets, subject to regional requirements and compatible ATM availability.
Users can withdraw up to $250 per transaction, with a daily limit of three withdrawals per card. The process involves tapping a smartphone at a supported ATM using the virtual Oobit card stored on the device, with the card PIN securely displayed via a biometric-protected viewer within the Oobit app.
This expansion builds on Oobit's existing payments network, which already allows users to spend supported cryptocurrencies at over 150 million Visa-accepting merchants across more than 80 countries. By adding ATM withdrawals, the company is extending its infrastructure beyond digital transactions and retail purchases to include direct access to physical cash.
Bridging crypto and cash
According to Oobit, the new feature addresses a key challenge for stablecoin and cryptocurrency users: converting digital assets into cash without relying on banks or exchange withdrawals. The company noted that ATMs remain the primary source of cash access in many of its core markets, including Latin America, Africa, and Southeast Asia, where cryptocurrency adoption is growing but banking access remains limited.
Oobit reported that transaction activity on its platform has increased 260% over the past six months, reflecting growing usage of its crypto payments ecosystem. The company's CEO, Amram Adar, stated: "Stablecoins can move globally and be spent at the point of sale, but the moment someone needs physical cash, the process often sends them back through a bank or exchange. Contactless ATM withdrawals close that gap."
Expanding beyond consumer payments
In addition to consumer services, Oobit is also expanding into business and AI applications. The company issues virtual Visa cards for AI agents through a KYB-gated program for businesses, while individual consumers can access the service via a waitlist. This enables AI agents to transact autonomously using funded USDT cards, extending Oobit's payments infrastructure beyond traditional human users.
Backed by Tether, Oobit positions itself as a platform designed to make cryptocurrencies practical for everyday use. The company enables users to pay directly from supported crypto wallets anywhere Visa is accepted, with payment infrastructure available across more than 80 countries. The addition of contactless ATM withdrawals further broadens the platform's functionality by allowing users to move seamlessly between digital assets, merchant payments, and physical cash access without requiring a traditional banking relationship.
For investors, this development highlights the ongoing convergence of crypto and traditional finance, as platforms like Oobit seek to bridge the gap between digital assets and everyday cash needs. The move also underscores the growing role of stablecoins in facilitating real-world transactions, particularly in regions with limited banking infrastructure. As the crypto payments ecosystem matures, such innovations could drive further adoption and utility for digital assets.
This article is for informational purposes only and does not constitute financial advice.
