TLDR
- Oobit enters Colombia as stablecoin payments gain strong Latin America traction.
- Tether-backed Oobit brings wallet-based crypto spending to Colombia.
- Oobit targets Colombia as stablecoins drive everyday crypto payments.
- Colombia becomes Oobitās ninth market amid rising digital dollar demand.
- Oobit expands LATAM reach as crypto moves from holding to spending.
Oobit launched its crypto payments platform in Colombia, making the country its ninth active market. The move expands its Latin America push after Brazil, Argentina, and Chile. It also places Colombia deeper into the regionās stablecoin payment shift.
The Tether-backed company targets a market where dollar-linked crypto already has strong demand. Chainalysis data showed the Colombian peso ranked second globally for stablecoin purchases on centralized exchanges. Colombia gives Oobit a clear base for daily crypto spending.
Oobit allows users to spend crypto directly from non-custodial wallets. The platform connects payments through a Visa-linked system across more than 150 million merchants. Therefore, users can pay without using bank off-ramp services.
Stablecoins Drive Colombiaās Crypto Payments Growth
Colombiaās crypto activity reflects wider demand for digital dollars across Latin America. Peso volatility and remittance flows have pushed many users toward stablecoins. Consequently, platforms now see Colombia as a practical market for crypto payments.
Oobit said USDT leads transactions across its Latin America markets. Its native token follows, while USDC ranks behind both assets. This pattern shows how stablecoins now support common payments, not only trading activity.
Other firms have also moved into Colombiaās stablecoin market. Meta recently began stablecoin payouts for selected creators in Colombia and the Philippines. MoneyGram also picked Colombia for its stablecoin remittance app.
Brazil Data Shows Daily Crypto Spending Demand
Oobitās Brazil rollout gives context for its Colombia expansion. Since November 2024, activity in Brazil has grown by more than 200%. Active users now spend about $400 monthly across nearly 20 transactions.
Grocery stores and supermarkets lead Oobitās regional payment activity with 35% of transactions. Restaurants, food shops, department stores, and fast-food outlets also record steady usage. Moreover, Brazil shows wider spending across fuel, beauty, electronics, and automotive retailers.
The launch comes as stablecoins continue growing across global crypto markets. DefiLlama data shows stablecoin supply rose from about $243 billion to over $322 billion in one year. Therefore, Oobitās Colombia entry adds another payment channel to a market already using digital dollars.
