Oobit's Off-Ramp: Analyzing the Flow of Stablecoin Volume to Banks

Oobit's new service establishes a direct, real-time bridge from self-custody wallets to bank accounts. It routes transactions through local payment rails like SEPA in Europe, ACH in the U.S., and SPEI in Mexico, enabling settlement within seconds. This bypasses traditional correspondent banking and SWIFT, removing intermediaries that typically cause delays and hidden fees.

The initial rollout is focused and specific. It supports only four fiat currencies: USD, EUR, MXN, and PHP. The list of supported crypto assets is also selective, covering major coins and stablecoins like BTC, ETH, USDT, USDC, EURC, and EURR. This targeted launch suggests a phased market entry, prioritizing regions with established local settlement networks.

The core innovation is transparency and speed. Users see in real time how much crypto leaves their wallet and how much is credited to the recipient's bank account before confirming. This embedded, native flow within the Oobit app eliminates the need to redirect to third-party off-ramp providers, streamlining the conversion from onchain assets to fiat holdings.

Volume Drivers: Liquidity and User Adoption

The service is backed by Tether (USDT), providing a direct, high-liquidity on-ramp for the most widely used stablecoin. This integration means Oobit can immediately tap into the massive existing supply of USDT in self-custody wallets, a key source of onchain liquidity. The ability to convert this popular asset directly into fiat within the app removes a major friction point for users holding stablecoins.

It leverages existing, high-volume local payment rails (ACH, SEPA) to tap into established financial flows. By routing transactions through networks like ACH in the United States and SEPA in Europe, Oobit connects to the foundational infrastructure that moves billions in daily payments. This gives the new off-ramp instant access to the scale and reliability of these systems, which are already handling massive transaction volumes.

Oobit's prior success as a top finance app in Europe suggests a ready user base for this new feature. The app has already demonstrated strong organic adoption, reaching the top of both the Google Play and Apple App Store rankings in multiple European countries. This existing user trust and engagement provide a built-in audience of crypto-savvy individuals who are likely to adopt a native off-ramp feature that enhances the utility of their self-custody holdings.

Competitive Positioning and Market Context

Stablecoins are now the dominant force in on-chain activity, comprising 30% of all on-chain crypto transaction volume and recording their highest annual volume to date in August 2025. This massive scale creates a clear target for any off-ramp service. Oobit's entry is timed to capture this flow, particularly in high-adoption markets like Brazil where its beta users show a strong preference for stablecoins. Among its 50,000 Brazilian beta users, 92% of transaction volume comes from stablecoins, with USDT accounting for 86%. This data suggests the service is hitting a real utility gap, moving users from digital hoarding to actual spending.

The competitive landscape is crowded, however. Oobit faces direct pressure from established crypto exchanges that have long offered off-ramps, as well as from neobanks and fintechs expanding into crypto payments. The recent surge in stablecoin volume and the shift in payment rails-evidenced by Visa processing stablecoin settlements and Stripe's $1.1 billion acquisition of Bridge-indicates the entire financial infrastructure is moving toward this model. This means Oobit must compete not just on price and speed, but on user experience within a self-custody context, a niche it is uniquely positioned to serve.

The bottom line is that Oobit has a significant opportunity in a growing market, but its market share will be constrained by the sheer number of players entering the stablecoin payments space. Its success will depend on whether its integrated, native flow within a trusted app can outperform the off-ramps offered by larger, more established platforms.

Catalysts and Risks

The primary catalyst for Oobit's off-ramp becoming material is expansion beyond its current four fiat currencies. The service is currently limited to USD, EUR, MXN, and PHP, which caps its addressable market. Broadening to include more global currencies like GBP, JPY, and CAD would unlock new regional markets and user bases, directly scaling the potential transaction volume. This expansion is the next logical step to convert its existing user trust into a significant share of the global stablecoin flow.

A major risk is regulatory scrutiny. By bridging self-custody crypto wallets directly to traditional bank accounts via local payment rails, Oobit's service operates in a gray area between crypto and traditional finance. This model could fall under new payment or AML frameworks, especially as regulators focus on stablecoin settlements. The service's reliance on infrastructure from a company being acquired by Bakkt-a regulated digital asset platform-may help, but it also draws more attention to its operational model.

The global addressable market is enormous, providing a clear incentive to overcome these hurdles. The annual transfer volume for stablecoins alone is estimated in the tens of trillions of dollars. This massive flow, driven by both institutional treasury use and consumer payments, represents the ultimate prize. Oobit's success will hinge on whether its integrated, self-custody-focused flow can capture even a fraction of this volume against the growing competition from exchanges and established fintechs.