Key Data

• Trading Name: Oobit
• Legal Entities: Cryptosys International Ventures Pte Ltd (Singapore), OObit Technologies UAB (Lithuania), Oobit Technologies OÜ (Estonia)
• Activities: Crypto payment processor and merchant service provider
• Locations: Estonia and Singapore
• Regulations: Registered with the Financial Crime Investigation Service (FCIS) in Lithuania as a crypto payment processor
• Key People: Chairman: Moshe Schlisser (LinkedIn)
  CEO: Amram Adar (LinkedIn)
  COO: Aharon Miller (LinkedIn)
  Olga Shishkina (Nominee Director)

Oobit is a crypto payment processor and merchant service provider. It was founded in 2017 as Cryptosys International Ventures Pte Ltd in Singapore and later rebranded into Oobit. They established Oobit Technologies OÜ in Nov 2019 in Estonia and OObit Technologies UAB in Lithuania in 2022. Oobit is registered with the Financial Crime Investigation Service (FCIS) in Lithuania as a crypto payment processor.

Offering

Oobit offers crypto exchange and payment services to private individuals and merchants and a crypto-based VISA debit card. For its card payments, Oobit used to cooperate with MoonPay(profile) but no longer does.

With Oobit you can buy, trade, HODL, and manage your cryptocurrency portfolio easily, all in one place.You can buy Bitcoin, Ethereum, Dogecoin and over 40 other coins on the Oobit exchange starting from as little as $30 using a wide variety of payment methods.The OBT token is a utility token which powers the Oobit exchange.

The OBT token allows holders to save up to 50% on trading fees on the Oobit exchange. You can earn free OBT when you create an account on the Oobit exchange so you can learn about the benefits OBT token offers.

Compliance Issue

On a negative note, we found Oobit as a payment facilitator in several broker scams such as ExpressFX (here) or StakingTrades (here). Clients (victims) of these scams were forwarded to oobit for deposits via credit cards. They are supposed to buy cryptocurrencies with credit cards, which are then sent to the scammers’ wallets.

Regulation

Registered with the Financial Crime Investigation Service (FCIS) in Lithuania as a crypto payment processor.

People

The two founders are Israelis Amram Adar and Aharon Miller , acting as CEO and COO. The beneficial owners of the group are based in Israel. Olga Shishkina acts as a nominee director of the Estonian entity.

Customer Review

Trustpilot: 4,3 Stars with 300+ Review

News

Oobit secures $25 million in funding, with investors including Tether. The funds will support expansion into new markets like the Asia-Pacific and UAE, and the development of a Web3 gateway. 

Conclusion

We have seen a significant improvement in the company since their involvement in scams as well as their customer ratings and their funding round with reputable investors is a positive sign of the company therefore we are rating them merchant technical to Green but compliance technical to Orange.