Oobit Expands Crypto Payments to Colombia, Fueling Stablecoin Growth in Latin America

Oobit, a leading provider of crypto payments solutions, has announced its expansion into Colombia, bringing its total number of active markets to nine. This move follows the company's successful launches in Brazil, Argentina, and Chile, among other Latin American countries.

The Colombian peso is ranked second globally in terms of centralized exchange stablecoin purchases by currency, according to Chainalysis data cited by Oobit. The company's non-custodial platform connects users' crypto wallets to a Visa-linked payment system, allowing them to spend digital assets directly from their wallets without routing funds through traditional bank off-ramp services.

Oobit's native token (OOB) and USD Coin (USDC) are also gaining traction in the region, with Tether-backed payments dominating transactions on the platform. Grocery stores and supermarkets account for 35% of spending across Oobit's Latin American markets, while restaurants, food stores, and department stores rank as the next most common categories.