Oobit expands crypto payments to Vietnam’s VietQR network

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Oobit has partnered with Web3 payment infrastructure provider AEON to enable crypto payments through Vietnam’s VietQR network, allowing travelers in the country to pay with crypto by scanning local QR codes.

With the integration in place, Oobit users can make payments in crypto while merchants receive the funds in local currency, according to the official announcement.

The partnership adds Vietnam’s domestic QR payment infrastructure to Oobit’s existing acceptance at more than 150 million Visa merchants worldwide. The company said the approach is part of its broader strategy of combining global merchant acceptance with the local payment rails already used by consumers and merchants.

Rather than requiring merchants or customers to adopt a new checkout system, the integration allows crypto payments to run through payment infrastructure already familiar to users in Vietnam.

“Every market pays differently. Oobit’s job is to make crypto disappear into however people already pay, not to ask people to change,” Oobit CEO Amram Adar said. “AEON lets us do that in Vietnam through VietQR.”

Vietnam becomes key market for Oobit travelers

Oobit noted Vietnam has become a growing market for everyday crypto spending among users on its platform, with traveler payment activity increasing month over month.

According to data provided by Oobit, the average daily spend per active traveler in Vietnam is around $117.

Source: Oobit

Taxis and rideshare services account for the largest share of traveler transactions at 49.2%, followed by restaurants at 9.2% and grocery and supermarket purchases at 8.7%.

Other spending categories include convenience and miscellaneous food stores at 8.4%, fast food at 7.5%, hotels and lodging at 4.0%, clothing stores at 2.4%, and bars and nightlife at 1.8%.

Oobit also said that virtually all USDT swap transactions among travelers spending in Vietnam are converted into OOB, its native token.

The AEON integration is designed to extend Oobit’s crypto-to-local-currency payment model across additional Asian markets by connecting the platform with established regional QR payment networks.

Oobit is backed by Tether and provides infrastructure for spending crypto through its payment network.

Featured image via Oobit.

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