Oobit, which operates in the field of cryptocurrency payments, announced that it has started serving in Colombia. The company has previously expanded to many Latin American countries such as Brazil, Argentina and Chile. Announcing that Colombia is its ninth operating region, Oobit underlines the rapid growth in the region.
Fast payments era in Colombia
Oobit’s Colombia move highlights the proliferation of cryptocurrencies in everyday payments in the region. According to data from on-chain analysis company Chainalysis, the Colombian peso ranked second in stablecoin purchases on central exchanges worldwide. This is considered an indicator of the increasing use of digital assets in the country.
In the system offered by Oobit, users can spend their cryptocurrencies directly from their wallets, without the need for traditional banking infrastructure. Thanks to Visa infrastructure, the platform can be used in more than 150 million businesses in more than 80 countries around the world. Thus, consumers in Colombia have the opportunity to easily make almost all kinds of purchases with cryptocurrencies.
According to company data, 35 percent of crypto spending in the Latin American market took place in markets and supermarkets; followed by restaurants, food stores and department stores.
Stablecoin impact in Latin America
According to Oobit’s statement, the most frequently used cryptocurrency on the platform is USDT, which is indexed to the American dollar. In addition to the company’s own token, USDC is also widely preferred. In the Brazilian market, Oobit users can spend their cryptocurrencies not only in markets; He also spends money at gas stations, beauty centers and technology stores.
Oobit started its operations in Brazil in November 2024 and announced that its transaction volume in the country has grown by over 200 percent since then. Users spent about $400 here on an average of 20 transactions each month. This reveals that the people of the region are highly adaptable to digital assets.
Rapid growth in the stablecoin market
Not only Oobit, but also other startups in the region have started to develop crypto payment systems. Mercado Libre, Latin America’s largest online marketplace, launched a transfer service between Brazil, Mexico and Chile with the stablecoin called Meli Dollar in April 2024. This asset can also be used for purchases and cashback applications within the marketplace.
According to Bitso’s 2025 report, US dollar-pegged cryptocurrencies accounted for 40 percent of all crypto purchases on the platform. During the same period, Bitcoin’s share remained at 18 percent. The report pointed out that the use of stablecoins is increasing day by day across Latin America. According to DefiLlama data, the stablecoin market increased from $243 billion to over $322 billion compared to a year ago.
Bitso made the evaluation: “Rising stablecoin usage is accelerating the spread of cryptocurrencies in daily financial transactions and payments in Latin America.”
On the other hand, Bitcoin also stands out as a direct payment tool in different emerging markets. For example, Africa Bitcoin Corporation chief executive Stafford Masie stated in a podcast in March that in some regions in Africa, stores accept payments directly in Bitcoin. Masie emphasized that users pay in satoshi rather than dollars or local currency.
