Oobit Expands Operations into Colombia, Boosts Latin American Presence

Oobit, a cryptocurrency payment platform funded by Tether, has entered Colombia, expanding its presence in Latin America.

The company's ninth market in the region, Oobit allows users to spend digital assets directly from their wallets, eliminating the need for traditional banking services. Integrated with the Visa system, this solution is accepted at over 150 million merchant locations worldwide.

According to Chainalysis, Colombia ranks second globally in terms of stablecoin purchase volume on centralized exchanges. This indicates a growing demand for stablecoins in the region, which Oobit aims to cater to.

With its expansion into Colombia, Oobit is expected to increase user activity and adoption of digital payments. The company's platform has seen significant growth in Brazil, with over 200% increase in activity since November 2024.