Oobit launches direct crypto-to-bank transfer service

Cryptocurrency payment app Oobit has launched a service allowing users to send their crypto holdings directly to a local bank account without going through an external exchange, Cointelegraph reported. The feature expands on Oobit's existing Tap-to-Pay and peer-to-peer (P2P) transfer functions by fully integrating an off-ramp capability within the app, enabling the conversion of crypto into everyday cash assets. The service utilizes local payment infrastructure in each region. Oobit is actively backed by Tether.