Oobit launched its crypto funds platform in Colombia, increasing the Tether-backed firm’s operations throughout Latin America.
The corporate mentioned Colombia is its ninth reside market and follows enlargement into nations together with Brazil, Argentina and Chile. Chainalysis data cited within the announcement confirmed the Colombian peso ranked second globally within the share of centralized alternate stablecoin purchases by forex.
Oobit operates a non-custodial crypto funds platform that enables customers to spend digital belongings straight from their wallets via a Visa-linked cost system accepted at greater than 150 million retailers throughout greater than 80 nations, in accordance with the corporate.
Customers spend crypto straight from their wallets with out changing funds via conventional financial institution off-ramp companies.
Oobit mentioned it has seen exercise in Brazil improve greater than 200% since launching there in November 2024, with lively customers spending a mean of about $400 per thirty days throughout 20 transactions.
The corporate mentioned USDT (USDT) accounted for the biggest share of transactions on the platform, forward of Oobit’s native token and USDC (USDC). Spending at grocery shops and supermarkets accounted for 35% of exercise throughout its Latin American markets, adopted by eating places, meals shops and shops.
In Brazil, customers additionally spent crypto at gasoline stations, magnificence outlets and electronics retailers, Oobit mentioned.
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Crypto funds develop throughout rising markets
Stablecoins and different digital belongings are more and more getting used for on a regular basis purchases and shopper funds throughout rising markets.
In April, Mercado Libre, Latin America’s largest on-line market, launched stablecoin-based transfers between Brazil, Mexico and Chile utilizing its Meli Greenback token. The stablecoin may also be used inside Mercado Libre’s market ecosystem and distributed to customers as cashback, in accordance with the corporate.
The enlargement comes as stablecoin adoption is on the rise throughout the area.A 2025 report from Bitso discovered that US dollar-linked stablecoins accounted for 40% of crypto purchases on its platform in 2025, greater than double Bitcoin’s (BTC) 18% share. The alternate mentioned the development mirrored rising use of stablecoins for funds and different on a regular basis monetary transactions throughout Latin America.
Information from DefiLlama reveals the stablecoin market has grown from about $243 billion a yr in the past to greater than $322 billion at this time.
Supply: DefiLlama
Bitcoin can also be getting used straight for funds in some rising markets. Africa Bitcoin Company govt chairman Stafford Masie mentioned on the Coin Tales podcast in March that BTC features as everyday money in parts of Africadescribing native economies the place retailers settle for funds straight in satoshis as a substitute of {dollars} or native currencies.
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