Oobit, the crypto payments platform backed by stablecoin issuer Tether, has officially launched in Colombia, its ninth live market and the latest leg of a regional expansion that already spans Argentina, Chile, and Brazil.
The announcement comes as the region’s crypto economy, valued at roughly $44 billion, continues to attract fintech operators betting on practical, everyday use of digital assets.
Colombia has quietly become one of the world’s most stablecoin-heavy crypto markets.
Chainalysis data shows the Colombian Peso ranked second globally in its share of centralized exchange stablecoin purchases, a sign that for most Colombian crypto users, stablecoins are not one option among many but a reliable entry point into accessing dollar-backed digital assets.
The country’s macro conditions explain much of that.
Persistent peso volatility and heavy remittance dependence have conditioned households to think in digital dollars.
Oobit’s expansion into the country is part of preparation for the next phase of crypto adoption – spending the digital dollars at everyday merchant stores.
Oobit is not alone in the launch. Last month, Meta quietly launched stablecoin payouts for select creators in Colombia and the Philippines, its first re-entry into digital currency since the collapse of its Libra project.
MoneyGram, meanwhile, chose Colombia as the debut market for its stablecoin remittance app, citing the country’s heavy reliance on US-to-Colombia transfers and the volatility of the peso.
The convergence of these moves suggests Colombia has crossed a threshold from interesting frontier market to active investment target for crypto payments infrastructure.
With stablecoins now the dominant holding across Colombian exchanges and major platforms paying out in dollar-backed digital assets, Oobit is optimistic that the country is ready to spend crypto, not just hold it.
Brazil shows what happens when stablecoins become spendable
The clearest evidence is what has already happened in Brazil. Since launching in November 2024, Oobit has recorded over 200% growth in activity.
Active Brazilian users are spending an average of roughly $400 a month across around 20 transactions, figures that describe a daily-use payment tool rather than a crypto experiment.
USDT dominates volume across all of Oobit’s LATAM markets, with the platform’s native token second and USDC a distant third.
The spending categories are equally telling. Across the LATAM region, grocery stores and supermarkets account for 35% of transactions, followed by restaurants at 8.8%, miscellaneous food outlets at 7.2%, department stores at 5.3%, and fast food at 4.1%.
In Brazil, the merchant mix is broader, with beauty and barber shops at 5.5%, fuel retailers at 5%, and electronics and automotive outlets all featuring.
These are not luxury or speculative purchases but the recurring costs of ordinary life.
Oobit CEO Amram Adar commented on the milestone, noting that the company is proud to be part of changing how crypto holders in the region are using their digital assets.
“Latin America is becoming a global leader in the real-world utility of digital assets. We are seeing a regional shift where crypto is no longer just an investment, but a primary way to pay for groceries and healthcare.”
Oobit operates as a non-custodial platform, meaning users hold their own private keys throughout.
Spending works via a virtual Visa card accepted at over 150 million merchants across 80-plus countries, with crypto converted at the point of purchase and no manual offramp or bank account required.
