Oobit adds Phantom support to enable Solana payments at 80M Visa merchants
Oobit has added native support for the Phantom wallet, enabling Phantom’s Solana users to spend SOL and supported Solana tokens and stablecoins at more than 80 million merchants that accept Visa. Using Oobit’s DePay Tap & Pay contactless solution, users can pay directly from their non‑custodial Phantom wallets with one tap — without pre‑funding custodial accounts, bridges, or moving funds to exchanges. At checkout, Oobit converts supported crypto into local fiat and settles with merchants over Visa’s network, keeping funds under user control until approval. The service is live in 80+ countries, including the US, Brazil, the Philippines, South Korea and Thailand, and expands Oobit’s existing wallet compatibility (MetaMask, Trust Wallet, Coinbase Wallet). The rollout follows Oobit’s late‑2025 international expansion (including a U.S. launch via a Bakkt partnership) and is supported by strategic investors tied to Solana. For traders: this integration increases real‑world utility and on‑ramp/off‑ramp flow for Solana assets, may raise retail transaction volume for SOL and Solana stablecoins, and reduces friction between self‑custody holdings and fiat spending.
Bullish
The integration directly increases Solana’s on‑chain utility and real‑world spendability, which is constructive for SOL demand. Allowing Phantom users to convert SOL and Solana‑based stablecoins to fiat at checkout reduces friction for retail adoption and can increase transactional volume and on‑chain transfers tied to merchant settlement. In the short term, news of broader merchant acceptance and payments partnerships tends to generate positive sentiment and speculative inflows into the native token (SOL) as traders anticipate higher demand and network activity. In the medium to long term, sustained increased use for payments could support higher velocity and more consistent demand for SOL and Solana stablecoins, strengthening fundamentals if usage growth outpaces token issuance and network dilution. Risks that temper the bullish view include rapid sell pressure when users convert crypto to fiat for spending, regulatory headwinds for on‑ramp/off‑ramp services, and the possibility that most spending uses stablecoins (limiting direct SOL utility). Overall, positive utility and access expansion point to a net bullish impact on SOL, contingent on adoption and the balance between transactional selling and increased demand.