Tether-Backed Oobit Expands to Chile as Latin America Crypto Payments Boom

Oobit, the crypto payment app backed by Tether, has launched in Chile as part of its expansion across Latin America. The move comes at a time when adoption is growing across the region, with Chile being one of the key markets due to its regulatory clarity and strong fintech adoption.

According to Chainalysis's latest report, Chile recorded $23 billion in annual transaction volumes, with 93.2% of crypto holders planning to increase their digital asset allocation this year. The country's newly enacted Fintech Law provides clearer rules for digital financial services and crypto-related services or infrastructures.

Oobit aims to transform crypto into instruments for everyday transactions for Chilean users, supporting wallet integrations with non-custodial wallets and enabling direct payments through supported networks. The app also supports crypto-to-bank transfers, settling through major international payment systems.