Oobit, a leading cryptocurrency payments provider, has announced the launch of its services in Colombia, marking the company’s ninth operational country in Latin America. Having already established a presence in Brazil, Argentina, and Chile, Oobit emphasized the rapid pace of digital currency adoption in the region and sees Colombia as a key growth market.
Accelerating fast payments in Colombia
Oobit’s expansion into Colombia reflects a broader shift toward cryptocurrencies as everyday payment methods in the region. Data from blockchain analytics firm Chainalysis shows that the Colombian peso ranks second globally in stablecoin purchases on centralized exchanges, an indicator of rising digital asset use in the country.
Through Oobit’s platform, users can spend their cryptocurrencies directly from their digital wallets without depending on traditional bank infrastructure. Utilizing Visa’s network, the system is accepted in over 150 million merchants across more than 80 countries, giving Colombians the ability to make cryptocurrency payments at virtually any type of store or service.
According to the company, 35% of crypto spending in Latin America occurs at supermarkets and grocery stores, followed by restaurants, food shops, and department stores.
The stablecoin effect across Latin America
Oobit reports that USDT, the US dollar-pegged stablecoin, is the most popular cryptocurrency among its users, with USDC and the company’s own token also frequently used. In Brazil, Oobit users are not limited to supermarkets and have adopted crypto payments in gas stations, beauty salons, and electronics stores as well.
Oobit launched in Brazil in November 2024 and has witnessed transaction volumes in the country more than triple since then. Brazilian users carry out an average of 20 transactions per month, spending roughly $400—demonstrating strong local engagement with digital assets.
Stablecoin market powers rapid growth
Oobit is not alone in betting on Latin America’s crypto payments potential. In April 2024, e-commerce giant Mercado Libre introduced the Meli Dollar stablecoin, which now enables cross-border transfers among Brazil, Mexico, and Chile, while also being used for in-platform shopping and cashback rewards.
According to Bitso’s 2025 report, US dollar-linked stablecoins now account for 40% of all crypto purchases on the platform, compared with Bitcoin’s 18% share in the same period. The report underlines surging stablecoin usage throughout Latin America. Figures from DefiLlama indicate that the stablecoin market has increased from $243 billion to more than $322 billion within a year.
Bitso believes “Rising stablecoin usage is accelerating the mainstream adoption of cryptocurrencies for daily financial transactions and payments in Latin America.”
Meanwhile, Bitcoin itself is gaining traction as a direct means of payment in several emerging markets. As Stafford Masie, CEO of Africa Bitcoin Corporation, highlighted on a March podcast, some stores in certain African regions now accept Bitcoin directly, allowing users to transact in satoshi rather than local or US currencies.
Oobit’s latest move demonstrates how the crypto payments landscape is rapidly evolving in Latin America, driven by increased stablecoin adoption and the expansion of practical use cases in daily life.
By extending its reach to Colombia, Oobit is tapping into a dynamic ecosystem where more consumers and businesses are embracing alternative financial infrastructure, supported by strong demand for stable, digital payment methods.
As businesses and consumers across Latin America seek alternatives to volatile local currencies, stablecoins like USDT and USDC have become critical tools for everyday spending, especially in regions with fast-changing economic conditions.
The rapid development of crypto payment options by both startups and established players like Mercado Libre highlights Latin America’s leadership in digital currency usage and signals further growth ahead.
