- Based on the partnership between VeChain and Oobit, VET can now be accessed on iOS and transacted with over 100 million retailers globally.
- Vechain similarly partnered with Alchemy Pay (ACH) to make its native token accessible at more than 2 million stores worldwide.
According to the latest report by VeChain (VET) shared by blockchain researcher Collin Brown, VET is now available for payment on iOS via the leading mobile payment app Oobit. This implies that crypto holders can simply tap and pay using the asset at more than 100 million retailers worldwide. Fascinatingly, this forms part of the recent partnership agreement between Oobit and VeChain to integrate VET into its platform.
📢 Big news, #VeChain fans! 🌍 You can now use $VET to pay at 100M+ retailers globally with @Oobit on iOS! 🍏�?Experience the future of payments right from your iPhone. 🚀🚀🚀https://t.co/CpalXYLsi8 pic.twitter.com/pV2jdEE8Hg
— Collin Brown (@CollinBrownXRP) September 6, 2024
While this incredible move exposes the asset to mass adoption, experts believe that this could also encourage participation among users to use sustainable implementations of crypto technology. According to our earlier report of this collaboration, the integration underscores VeChain’s commitment toward environmental, social, and governance (ESG) initiatives, mostly in areas of stringent regulations.
Commenting on this, VeChain’s CEO, Sunny Lu, disclosed that the partnership goes beyond technology as it also enhances positive societal impact.
VeChain is excited to partner with Oobit, merging our commitment to ESG initiatives with Oobit’s innovative approach. The integration of VET into Oobit’s platform is not just a technological enhancement; it’s a tangible step towards making blockchain technology synonymous with positive societal impact.
More on the VeChain and Oobit’s Collaboration
In a blog post detailing the terms of this collaboration, it was stated that this move is in line with VeChain’s ‘Blockchain Biosphere�?concept, which showcases how the blockchain ecosystem can address specific sustainability challenges across different industries. Specifically, this ranges from carbon capture prevalent in the energy sector to the enhancement of global logistics trails.
Oobit’s recent move in the crypto industry is supported by the $25 million secured in a Series A funding round. Currently, Oobit is expanding its payment ecosystem by adding more crypto assets to the six supported tokens.
According to Oobit CEO Amram Adar, the integration is a bold step towards sustainability.
The integration of VET for tap payments on Oobit solidifies our mission in reshaping how we interact with digital assets. This partnership signifies more than a technological integration; it’s a bold step towards a future where every transaction contributes to sustainability.
As part of the effort to push VET to a broader audience, VeChain recently sealed another collaboration with crypto payments protocol Alchemy Pay (ACH) to make the asset available in more than 2 million stores worldwide.
On this, Sunny Lu explained that the decision is to bolster the rate of adoption and enhance its utility as a means of payment.
The integration of VET into Alchemy Pay’s crypto-payment system is important in further expanding the real-world use cases for VET as a form of payment. By enabling mainstream payment standards like Visa, Mastercard and Paypal using Alchemy Pay, the mainstream adoption of VET will increase by making direct access possible, bypassing the complications of crypto exchanges that can be a barrier for many new users.
At press time, VET was trading at $0.020 after declining by 7% in the last seven days and 10% in the last 30 days. Contrary to the price performance, its 24-hour trading volume remains up by 51%, with $20 million changing hands.
