Oobit Expands into Colombia as Stablecoin Adoption Continues to Grow

Oobit, a cryptocurrency payment platform backed by Tether, has expanded its services to Colombia, marking the company's ninth active market in Latin America.

The move is part of Oobit's push into emerging markets, where stablecoin adoption is on the rise. According to Chainalysis data, the Colombian peso ranks second globally among currencies with the highest participation in stablecoin purchases on centralized exchanges.

Oobit's non-custodial system allows users to spend digital assets directly from their wallets through a Visa-linked network, accepted at over 150 million merchants in more than 80 countries. In Brazil, which was launched last year, activity has grown more than 200%, with users spending an average of $400 per month.