Tether-Backed Oobit Expands Crypto Payments to Colombia
Oobit, a Tether-backed crypto payments company, has launched its platform in Colombia, marking its ninth active market in Latin America. The expansion builds on the growing adoption of stablecoins like USDT for retail and everyday transactions across the region.
The platform allows users to spend digital assets directly from non-custodial wallets via a Visa-linked payment system. This solution bypasses traditional banking rails, enabling crypto payments at over 150 million merchants across 80 countries. According to Oobit, USDT dominates transaction volume on the platform, followed by its native token and USDC.
Colombia is emerging as a significant market for stablecoin usage. Data from Chainalysis shows the Colombian peso ranks second globally in centralized exchange stablecoin purchases by currency. This aligns with broader trends in Latin America, where high inflation and volatile currencies have driven stablecoins to account for 40% of crypto purchases in 2025, more than double Bitcoin’s 18% share, according to a report from Bitso.
Oobit’s expansion into Colombia follows its success in countries like Brazil, where activity surged 200% since its November 2024 launch. Brazilian users reportedly spend an average of $400 monthly across 20 transactions, with grocery stores and supermarkets accounting for 35% of activity. Restaurants, department stores, and gas stations are also popular spending categories.
Stablecoin Adoption Drives Growth
Stablecoins, particularly USDT, are solidifying their role as a go-to option for payments and remittances in emerging markets. With over $180 billion in circulation as of May 2026, USDT is the world’s largest stablecoin. In 2025, it processed 6.72 billion transactions worth $19.1 trillion, highlighting its utility for cross-border payments and retail spending.
Notably, Tether has been aggressively investing in the region. In April 2026, it led a $14 million Series A round for Argentine wallet Belo, which is expanding stablecoin-based payments across countries like Mexico, Chile, and now Colombia. This strategic push underscores the importance of Latin America as a growth market for crypto payments.
Colombia's Role in the Broader Trend
The timing of Oobit’s entry into Colombia aligns with local demand for dollar-pegged assets to mitigate the effects of currency instability. Mercado Libre, Latin America’s largest online marketplace, also launched stablecoin-based transfers in April, allowing cross-border transactions between Brazil, Mexico, and Chile using its proprietary Meli Dollar token.
Meanwhile, the global stablecoin market continues to grow, with total market capitalization rising from $243 billion in 2025 to $322 billion today, per DefiLlama data. As the adoption of stablecoins accelerates, platforms like Oobit are well-positioned to capture a slice of the $19 trillion global stablecoin transaction economy.
Colombia’s inclusion in Oobit’s network not only expands the company’s footprint but also reflects the increasing normalization of crypto for everyday financial activities in the region. Traders and investors will want to keep an eye on how these developments impact stablecoin usage metrics and broader financial inclusion trends.