By
Mayowa Adebajo
May 14th, 2024
Oobit Hunter, a cryptocurrency-equivalent to Skyscanner, which gives travelers insights into flight prices, is set to provide new levels of insight and transparency to the crypto trading ecosystem.
Crypto trading platform Oobit has announced its incentivized gateway solution that introduces four critical services to the crypto space. Collectively, this includes a crypto trading price comparison feature and liquidity hunter, a multi-platform KYC passport, a direct crypto to fiat gateway, and a digital wallet.
To complete this work, Oobit has partnered with Coinbase to provide unparalleled service and security to many of these new features.
New Features for Crypto Traders
Most prominently, Oobit Hunter, a cryptocurrency-equivalent to Skyscanner, which gives travelers insights into flight prices, is set to provide new levels of insight and transparency to the crypto trading ecosystem.
Using an AI-driven liquidity aggregator, Oobit Hunter identifies the best prices across different crypto platforms that users access from a web interface that also includes two trading components: a peer-to-peer trading service and a search engine for identifying opportunities across a global collection of trading platforms.
At the same time, the platform released Oobit Pass, a know-your-customer (KYC) passport that uses facial and optical character recognition to facilitate a fast approval process that allows traders to get to work as quickly as possible.
KYC requirements are a critical component of crypto exchange integrity, but they can also be a significant hassle for traders who incur costly delays in initiating their trading operations. According to the press release, exchanges can choose to adopt Oobit Pass, at once reducing their KYC overhead while expanding their potential customer base to a ready cohort of traders.
According to the company, all personal data and documents stored on Oobit Pass are protected by military-grade local encryption to protect this critical information from theft or misuse.
In conjunction with these new services, Oobit launched Oobit Direct, a direct fiat-to-crypto gateway that allows users to buy crypto with a credit or debit card. Moreover, Oobit Wallet, powered by Coinbase, supports Bitcoin and doesn’t require users to pay deposit fees.
Along with these user-centered features, Oobit plans to release Oobit Pay, a crypto debit card that will make paying with crypto at checkout a seamless process. It also comes as Binance, one of the largest cryptocurrency exchanges by trading volume, has announced a crypto debit card of its own as well.
Buying with Bitcoin
On March 26th, Binance announced Binance Card, a crypto-backed payment card that operates like a traditional debit card. In this case, the banked-backed card is supported by the buyer’s Binance account, which users can monitor through the Binance Card App.
The Binance Card is offered by Visa, and it’s accepted by more than 46 million merchants for both online and in-store purchases. It’s a significant transition for crypto payments, and it reflects a growing desire among cryptocurrency companies to make digital assets more usable beyond their primary adoption as a speculative asset.
In that way, Oobit Pay may be just a subset of the platform’s new services, but it speaks to their desire to both include more people in the ecosystem and to digital resources more purposeful for average users. When coupled with their other offerings, it’s clear that usability is at the forefront of our current crypto moment.