Oobit Launches Instant Crypto-to-Fiat Off-Ramp Service for Global Transfers

Oobit has introduced a crypto-to-fiat off-ramp solution, enabling users to transfer supported cryptocurrencies directly to bank accounts in fiat currencies. This service allows users to choose the amount of cryptocurrency to send and view the exact equivalent in fiat currency before conversion.

The platform supports over 25 cryptocurrencies, including popular options like Bitcoin, Ethereum, and USDT. The availability of these cryptocurrencies for conversion into fiat currencies like USD, EUR, MXN, and PHP varies by region and regulatory approvals.

Oobit's service is competing with other off-ramp platforms such as MoonPay, Transak, Banxa, Bleap, and Breet, each offering varying geographic coverage, features, and fee structures. While MoonPay provides a wider global reach and more payout options, Oobit focuses on faster and lower-cost transfers in supported regions.