Oobit has launched its crypto payments platform in Colombia, expanding its reach in Latin America as stablecoin use and crypto payments keep growing in the region.
The company, backed by Tether, said Colombia becomes its ninth live market globally. The expansion follows strong growth in countries such as Brazil, where platform activity reportedly increased more than 200% since launch.
Oobit lets users spend crypto directly from their own wallets using a Visa-linked payment system accepted by over 150 million merchants worldwide. The platform mainly focuses on stablecoin payments, especially those using USDT.
According to the company, Colombian market conditions make the country particularly attractive for crypto payments adoption. Chainalysis data cited in the announcement showed the Colombian peso ranks second globally in centralized exchange stablecoin purchases by currency.
In Latin America, more people are using dollar-linked stablecoins for daily transactions, especially in countries dealing with inflation, currency swings, or banking problems.
In Brazil, Oobit users reportedly spend around $400 monthly on average across roughly 20 transactions. Grocery shopping accounts for around 35% of spending activity, though usage has also expanded into sectors such as electronics, dining and fuel stations.
The company’s growth comes as the stablecoin market keeps expanding quickly. Industry data shows the total stablecoin market grew from about $243 billion last year to over $322 billion now.
Major fintech and e-commerce companies are also getting more active in Latin America. Mercado Libre recently started stablecoin transfers in Brazil, Mexico, and Chile with its Meli Dollar token. Bitso, an exchange, said stablecoins now make up a large share of crypto purchases on its platform.
Supporters say stablecoins are moving from being just trading tools to becoming practical ways to pay for everyday goods, especially in emerging markets.
However, regulators in the region are watching stablecoin growth closely, especially when it comes to consumer protection, transparency, and financial oversight.
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