- Oobit, a Tether-backed payments firm, has expanded to Colombia, its ninth market across Latin America, where stablecoin adoption for payments is surging.
- The company’s non-custodial platform saw Brazilian user activity surge over 200% since its 2024 launch, with users averaging $400 in monthly spending.
- Across the region, stablecoins are increasingly used for daily needs, with Mercado Libre launching cross-border transfers and Bitso data showing they now dominate crypto purchases.
Crypto payments platform Oobit has launched in Colombia, its ninth live market, signaling a significant expansion across Latin America for the Tether-backed company. Consequently, the strategic move targets a market where, according to Chainalysis data, the Colombian peso ranked second globally for stablecoin purchases by currency.
The company’s VISA-linked system allows direct spending from crypto wallets at over 150 million merchants without traditional bank conversions. Consequently, activity in Brazil has increased by more than 200% since its November 2024 launch there.
USDT accounted for the largest transaction share on Oobit‘s platform, ahead of its native token and USDC. In Latin America, 35% of spending occurred at grocery stores, followed by restaurants and department stores.
Meanwhile, stablecoins are becoming essential for everyday payments across emerging markets. For instance, Latin America’s largest online marketplace, Mercado Libre, launched stablecoin-based transfers between Brazil, Mexico, and Chile in April.
Adoption is rising, as a 2025 Bitso report found dollar-linked stablecoins made up 40% of its platform’s crypto purchases. This trend reflects their growing use for daily financial transactions instead of just speculation.
The total stablecoin market has grown from about $243 billion a year ago to over $322 billion today, DefiLlama data shows. This growth parallels broader crypto adoption for payments in regions like Africa where Bitcoin functions as everyday money.
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