In the rapidly evolving world of cryptocurrency, Oobit, a mobile payments app, has successfully raised $25 million in a Series A funding round. The investment was led by Tether’s investment arm, with contributions from CMCC Global’s Titan Fund, 468 Capital, and Anatoly Yakovenko, co-founder of Solana. Though the exact post-investment valuation of Oobit remains undisclosed, this funding round marks a pivotal moment for the company.
Oobit’s platform enables consumers to make purchases using cryptocurrencies and allows merchants to receive payments in fiat currency. With a tap-and-pay feature, the app streamlines crypto transactions at point-of-sale terminals compatible with Visa or MasterCard. The company plans to expand its services by integrating third-party wallets, moving towards becoming a non-custodial crypto payments app.
Meanwhile, eTukTuk, a green crypto project, has exceeded $1 million in presale funding. This groundbreaking initiative aims to revolutionize transportation in developing economies by leveraging blockchain and AI technology to build electric vehicle (EV) infrastructure.
eTukTuk operates with a unique token sale structure, utilizing incremental token prices and a hard cap target of $10.7 million. Investors participate by purchasing $TUK tokens priced at $0.026, using BNB, USDT, or credit/debit cards. The project offers attractive staking opportunities with yields of up to 216% APY for token holders.
eTukTuk’s vision extends far beyond profitability and encompasses addressing pressing environmental issues, reducing emissions, tackling pollution-related illnesses, and promoting financial inclusion for unbanked populations. Its innovative approach has earned it a spot on Coin Sniper’s list of upcoming ICO launches to watch.
One of the standout features of eTukTuk is its streamlined manufacturing process, developed over a rigorous five-year period. With fewer than 200 locally sourced components, eTukTuk vehicles have reduced development costs, making them more accessible to drivers. Additionally, the integration of LFP batteries and AI-powered guideline systems further enhances operational efficiency.
eTukTuk’s ecosystem encompasses not only vehicles but also charging infrastructure and payment systems. Territory Partners strategically install and manage charging stations to ensure seamless adoption of eTukTuks in developing nations. Power Stakers secure the payment network, allowing global participants to actively engage and contribute to the project’s success.
Through the implementation of artificial intelligence (AI), eTukTuk optimizes driving routes, enhances driver efficiency, and minimizes battery consumption. AI also aids in the placement of charging stations by analyzing data sourced from applications and partners.
As eTukTuk forges ahead, it has already launched operations in Colombo, Sri Lanka, in partnership with the Capital Maharaja Group (CMG) as its Territory Partner for the region. With over 1.2 million registered TukTuks in Sri Lanka and rising fuel costs, eTukTuk is at the forefront of transitioning conventional 3-wheel TukTuks to cleaner and more efficient electric vehicles.
Projects like Oobit and eTukTuk demonstrate the immense potential of blockchain technology and digital assets to drive positive change, fostering a more inclusive, efficient, and sustainable future. While Oobit’s focus lies in simplifying crypto payments, eTukTuk aims to transform transportation in developing economies. Both projects showcase the innovative power of the crypto market and its ability to shape the world we live in.
Frequently Asked Questions (FAQ)
1. What is Oobit?
Oobit is a mobile payments app that enables consumers to make purchases using cryptocurrencies and allows merchants to receive payments in fiat currency. It aims to streamline crypto transactions at point-of-sale terminals compatible with Visa or MasterCard.
2. How much funding did Oobit raise in its Series A funding round?
Oobit raised $25 million in its Series A funding round.
3. Who led the investment in Oobit?
The investment was led by Tether’s investment arm, with contributions from CMCC Global’s Titan Fund, 468 Capital, and Anatoly Yakovenko, co-founder of Solana.
4. What are the future plans of Oobit?
Oobit plans to expand its services by integrating third-party wallets and transitioning towards becoming a non-custodial crypto payments app.
5. What is eTukTuk?
eTukTuk is a green crypto project that aims to revolutionize transportation in developing economies by leveraging blockchain and AI technology to build electric vehicle (EV) infrastructure.
6. How much presale funding has eTukTuk received?
eTukTuk has exceeded $1 million in presale funding.
7. What is the token sale structure of eTukTuk?
eTukTuk operates with incremental token prices and a hard cap target of $10.7 million. Investors can participate by purchasing $TUK tokens priced at $0.026 using BNB, USDT, or credit/debit cards.
8. What are the staking opportunities offered by eTukTuk?
eTukTuk offers staking opportunities with yields of up to 216% APY for token holders.
9. What is the vision of eTukTuk?
eTukTuk aims to address pressing environmental issues, reduce emissions, tackle pollution-related illnesses, and promote financial inclusion for unbanked populations in developing economies.
10. How does eTukTuk optimize operational efficiency?
eTukTuk optimizes operational efficiency through streamlined manufacturing processes, integration of LFP batteries, AI-powered guideline systems, and the utilization of artificial intelligence to optimize driving routes and minimize battery consumption.
11. Where has eTukTuk launched its operations?
eTukTuk has launched operations in Colombo, Sri Lanka, in partnership with the Capital Maharaja Group (CMG) as its Territory Partner for the region.
12. What do projects like Oobit and eTukTuk demonstrate?
Projects like Oobit and eTukTuk demonstrate the potential of blockchain technology and digital assets to drive positive change, foster inclusivity, efficiency, and sustainability in various industries.
Key Terms and Definitions
1. Cryptocurrency: Digital or virtual currency that uses cryptography for secure financial transactions, control the creation of new units, and verify the transfer of assets.
2. Fiat Currency: Government-issued currency that is not backed by a physical commodity, such as gold or silver, but by the trust and confidence of the people who use it.
3. Non-custodial: Refers to a crypto wallet or app that does not hold or have control over the users’ private keys or funds. Users have full control and responsibility for their assets.
4. Blockchain: A digital ledger of transactions that is distributed across multiple computers or nodes. It is designed to be secure, transparent, and resistant to modification.
5. AI (Artificial Intelligence): The simulation of human intelligence by machines, typically through the use of computer systems that can perform tasks that would typically require human intelligence, such as speech recognition or problem-solving.
6. ICO (Initial Coin Offering): A fundraising method in which a company or project sells its own tokens or digital assets to investors in exchange for cryptocurrencies, such as Bitcoin or Ethereum.
7. EV (Electric Vehicle): A vehicle that uses one or more electric motors, powered by rechargeable batteries, as the primary source of propulsion.
Suggested Related Links
– For more information about Oobit, you can visit their official website: Oobit
– To learn more about eTukTuk and their initiatives, visit their official website: eTukTuk
– For general information about cryptocurrencies and blockchain technology, you can explore CoinMarketCap: CoinMarketCap
– To stay updated with the latest crypto news and market trends, you can visit CoinDesk: CoinDesk
The source of the article is from the blog anexartiti.gr