Singapore-based P2P trading platform Oobit has launched an incentivized gateway solution, likening the service to a Skyscanner for the crypto sector. Motivated by major discrepancies in the price of cryptocurrencies across crypto exchanges and P2P marketplaces, Oobit’s creators want to help users compare prices and offerings from different portals at a glance.
In doing so, they hope that Oobit becomes a go-to tool for traders intent on identifying opportunities across various sources of liquidity, as well as for regular buyers and sellers seeking to purchase/sell digital assets at an optimal price.
The Eye of the Hunter
Known as Oobit Hunter, this Skyscanner-esque AI-driven web interface recommends trading options based on users’ unique local circumstances, saving them the hassle of scouring crypto exchanges like Binance or P2P portals like LocalBitcoins.
As well as hunting liquidity and providing a real-time shortlist of fiat-to-crypto onboarding platforms, Oobit’s partnership with Coinbase – the leading exchange in the U.S. – ensures wallet, escrow and custodial services.
“We are delighted to bring Oobit’s multifunctional incentivized gateway solution to cryptocurrency users across the globe,” said Oobit CEO Amram Adar. “Whereas most established industries have comparison platforms that make it easy for users to decide between the products and services of different providers, until now there has been no such solution for cryptocurrency users.
“We believe the launch of Oobit will play a pivotal role in helping traders worldwide make decisions about buying and selling cryptocurrencies.”
Oobit Aims to Work Alongside Existing Platforms
Founded in 2017 with the goal of enhancing liquidity and engendering more transparency in the crypto industry, Oobit doesn’t so much challenge existing platforms as work alongside them, the same way Skyscanner directs holidaymakers to flights that best meet their requirements. According to Statista research, saving money is the primary motivating factor driving use of such comparison websites.
Hunter is complemented by Oobit Pass, a unified know-your-customer (KYC) passport that saves users re-entering their identifying information on multiple platforms. The digital passport utilizes advanced face and optical character recognition, with military-grade local encryption immunizing users from the threat of identity theft. Global exchanges can opt in to the service to simplify the onboarding process and essentially delegate the KYC process to Oobit.
The fact that Oobit is powered by Coinbase gives the platform credibility, with users assured that their funds are secured by tried-and-tested technology. The exchange has been busy of late, with its Commerce portal exceeded $200 million in transactions for the first time. The company also announced earlier this month that its crypto-funded debit card can now be linked to Google Pay.