Oobit expands to Colombia as LATAM embraces stablecoins for everyday payments
Oobit, the crypto payments platform backed by stablecoin issuer Tether, has begun operations in Colombia, marking its ninth live market and a milestone in a regional expansion that already targets Argentina, Chile and Brazil. The rollout comes as the Latin American crypto economy, valued at roughly $44 billion, continues to draw fintech operators betting on practical, everyday use of digital assets.
Data shows that Colombia has quietly become one of the world’s most stablecoin-heavy markets. According to Chainalysis, the Colombian Peso ranks second globally in its share of centralized exchange stablecoin purchases, underscoring that many Colombian crypto users view stablecoins not as a speculative choice but as a reliable gateway to dollar-backed digital assets.
The macro backdrop helps explain that dynamic. Persistent peso volatility and a heavy reliance on remittances have conditioned households to think in digital dollars. Oobit’s expansion into Colombia is part of a broader effort to move crypto from a store of value into a spending tool, enabling purchases at everyday merchants rather than solely investment activity.
The Colombia launch arrives amid other regional moves signaling a shift toward spendable crypto. Meta reportedly re-entered the space with stablecoin payouts for select creators in Colombia and the Philippines, according to Fortune, marking a renewed push into digital currencies after its Libra-era endeavors.MoneyGram, for its part, chose Colombia as the debut market for its stablecoin remittance app, citing Colombia’s heavy US-to-country transfers and peso volatility. The report cited Blockworks on this point. Taken together, these developments suggest Colombia is moving from an interesting frontier into a focused hub for crypto payments infrastructure.
Oobit’s leadership frames the Colombia entry as part of a regional transition: stablecoins moving from a crypto-asset hold to a real-world, pay-enabled currency. The company operates on a non-custodial model, meaning users hold their own private keys. Spending works through a virtual Visa card accepted at more than 150 million merchants across 80-plus countries, with crypto converted at the point of purchase and no required bank account or manual off-ramping.
Key takeaways
- Price move: N/A — Oobit is a private company; no public price action to report.
- Catalyst: Colombia becomes the latest LATAM market for Oobit as stablecoins gain everyday spendability; Meta and MoneyGram moves amplify the momentum.
- Key implication: The Colombia rollout reinforces a trend toward real-world crypto usage in LATAM, potentially expanding merchant acceptance and cross-border remittance flows.
What drove the move
The Colombia expansion sits at the intersection of macro fragility and digital-fintech momentum. In Colombia, a combination of peso volatility and remittance-driven demand creates conditions where households increasingly think in digital dollars rather than local currency. Oobit’s architecture—non-custodial keys, a virtual Visa card, and crypto settlement at purchase—aims to translate crypto ownership into immediate spending power without traditional banking friction.
The Brazilian experience provides a concrete data point for the LATAM trend. Since Oobit began operating there in November 2024, activity has reportedly surged by more than 200%. Active users in Brazil are spending about $400 per month across roughly 20 transactions, painting a picture of daily-use utility rather than speculative activity. Across LATAM, USDT dominates platform volume, with the native token following and USDC trailing significantly behind. The merchant mix in the region underscores broad daily usage: groceries and supermarkets account for about 35% of transactions, followed by restaurants, other food outlets, department stores and fast-food venues. In Brazil, categories such as beauty and barber shops, fuel retailers and electronics also feature prominently.
These patterns align with a broader narrative in which stablecoins serve as a practical medium of exchange rather than just a store of value. Oobit’s approach, which converts crypto at the point of sale, is designed to simplify the process for users who want to pay with digital assets at familiar, everyday outlets.
Market reaction
While there is no tradable ticker for Oobit, the regional signals are clear: stablecoins are increasingly integrated into everyday purchasing behavior in LATAM. The combination of Colombia’s rollout with Meta’s and MoneyGram’s efforts points to a convergence of consumer wallets, merchant acceptance and cross-border transfers moving onto dollar-backed digital assets. The region’s ongoing adoption suggests a growing user base that views crypto as a spendable currency, not merely a speculative instrument.
In practice, the purchasing mix across LATAM—grocery stores, supermarkets and other routine outlets—illustrates that the transition from intention to execution is underway. The broader implication for payments rails is a potential increase in merchant acceptance of digital currencies and a corresponding uplift in the velocity of crypto-related transactions in everyday categories.
What industry observers are saying
Observers underscore that Colombia’s ascent as a crypto-payments market hinges on stablecoins’ ability to deliver spendable value in a volatile macro setting. The Meta and MoneyGram developments are cited as important accelerants, suggesting a multi-company push toward dollar-denominated digital payments that could underpin wider merchant adoption and consumer wallets in the near term.
Bigger picture
Colombia’s progress mirrors a regional trend: stablecoins consolidating as a core layer for daily financial activity rather than a niche instrument for investment or speculation. If this trajectory continues, LATAM could emerge as a meaningful live environment for crypto-enabled payroll, shopping and cross-border remittances. Regulatory clarity in Colombia and neighboring markets will be a critical variable in scaling this ecosystem, influencing how quickly merchants embrace crypto-based payment rails and how rapidly users shift from wallet ownership to daily spending.
Closing: what to watch next
Investors and users should watch Colombia’s merchant onboarding pace and the breadth of categories accepting crypto payments as Oobit and its peers push stablecoins deeper into daily commerce. Regulatory developments around stablecoins and cross-border transfers will be a key driver of how quickly such rails can scale across LATAM. Oobit’s Colombia launch will also be evaluated against Brazil’s ongoing experience as a proof point for the viability of crypto-enabled everyday payments in Latin America. Keep an eye on updates from Meta and MoneyGram for further indications of how dollar-denominated digital payments are evolving in the region.
