Oobit has launched its crypto payments platform in Colombia, expanding the Tether-backed company’s operations across Latin America.
The company said Colombia is its ninth live market and is pursuing expansion into countries including Brazil, Argentina and Chile. Chain analysis data cited in the statement showed that the Colombian peso is in second place in the world in terms of the share of purchases of stablecoins in centralized exchanges by currency.
Oobit operates a custody-free crypto payments platform that allows users to spend digital funds directly from their wallets through a Visa-connected payment system accepted by more than 150 million merchants in more than 80 countries, the company said.
Users spend cryptocurrencies directly from their wallets without converting funds through traditional off-ramp banking services.
Oobit said it has seen activity in Brazil increase more than 200% since launching there in November 2024, with active users spending an average of around $400 per month across 20 transactions.
The company said that USDT (USDT) accounts for the largest share of transactions on the platform, ahead of Oobit’s native token and USDC (USDC). Spending in grocery stores and supermarkets represented 35% of activity in Latin American markets, followed by restaurants, food stores and department stores.
In Brazil, users also spent cryptocurrencies at gas stations, beauty shops and electronics retailers, Oobit said.
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Crypto payments are spreading in emerging markets
Stablecoins and other digital assets are increasingly used for everyday purchases and consumer payments in emerging markets.
In April, Mercado Libre, Latin America’s largest online marketplace, launched stablecoin-based transfers between Brazil, Mexico and Chile using its Meli Dollar token. The stablecoin can also be used within the Mercado Libre marketplace ecosystem and distributed to users as cashback, according to the company.
The expansion comes with a surge in stablecoin adoption across the region. Bitso’s 2025 report showed that stablecoins pegged to the US dollar accounted for 40% of crypto purchases on its platform in 2025, double Bitcoin’s (BTC) share of 18%. The exchange said the trend reflects the increasing use of stablecoins for payments and other everyday financial transactions across Latin America.
Data from DefiLlama shows that the stablecoin market has grown from around $243 billion a year ago to more than $322 billion today.
Source: DefiLlama
Bitcoin is also used directly for payments in some emerging markets. Africa Bitcoin Corporation CEO Stafford Masie said on the Coin Stories podcast in March that BTC functions as everyday money in parts of Africa, describing local economies where merchants accept payments directly in satoshis instead of dollars or local currencies.
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