Oobit expands to Colombia as Latam crypto economy hits $44B and usage surges 200%

Crypto payments platform Oobit has expanded into Colombia, betting on rising demand for stablecoin-based payments across Latin America as the region’s crypto economy grows to an estimated $44 billion. Colombia is now Oobit’s ninth active market, following its launches in Argentina, Brazil, and Chile across Latin America. 

Oobit’s entry comes as Colombia is recognised one of the largest stablecoin markets in Latam. A recent Chainalysis report even showed that the Colombian Peso is the second most-used currency in the region for buying stablecoins. 

Oobit allows users to spend cryptocurrencies directly from self-custodied wallets via a Visa-linked infrastructure accepted by more than 150 million merchants across 80 countries.

Latin America has emerged as one of the world’s fastest-growing regions for crypto payments, driven by increasing stablecoin adoption and rising demand for faster, lower-cost digital transactions.

Oobit sees strong performance in Brazil

Oobit has already established a strong presence in Brazil. Since entering the country, the platform has recorded over 200% growth in user activity.

More recent figures reveal that active Brazilian users spend an average of $400 per month across roughly 20 transactions. A trend that holds across most of the app’s Latin American markets.

USDT still claims the top spot for transactions. Oobit’s own token holds the number two spot in usage, leaving USDC in third place. Meanwhile, everyday purchases are driving most Oobit crypto card usage.

In LATAM, grocery stores and supermarkets make up 35% of spending, ahead of restaurants at 8.8%, miscellaneous food stores at 7.2%, department stores at 5.3%, and fast-food restaurants at 4.1%. 

Use cases in Brazil have broadened to include mainstream service stations and grooming businesses. Beauty salons and barber shops captured 5.5% of spending activity, followed by gas stations at 5%, and purchases at electronics and automotive outlets. 

Oobit’s co-founder & CEO, Amram Adar,  recently pointed to Latin America as a rising global leader in practical crypto use cases.

He commented, “We are seeing a regional shift where crypto is no longer just an investment, but a primary way to pay for groceries and healthcare, and we are proud to lead the change across LATAM.”

How much crypto growth has Latin America seen?

According to Chainalysis, crypto is booming in Latin America. Nearly $1.5 trillion has changed hands between July 2022 and June 2025.

Crypto activity rose from $20.8 billion in mid-2022 to a record $87.7 billion in late 2024, consistently holding above $60 billion into early 2025. The region’s economy is now valued at over $44 billion.

High remittance demand has been driving crypto adoption for fast and inexpensive cross-border transfers. Regionally, Brazil is at the forefront, accounting for $318.8 billion—nearly a third of the total Latin American crypto market.

Argentina secured the regional number two position with $93.9 billion in transaction volume. Latin America is also ahead in its use of centralized exchanges: its CEXs account for 64% of global market activity, behind only MENA (66%) and comfortably ahead of Europe (53%) and North America (49%).

Powerful household names, such as Mercado Bitcoin, Ripio, Bitso, Wenia, and SatoshiTango, have attracted users via fiat on-ramps and local payment integrations.

So far, Brazil is the region’s fastest-growing crypto market, with a period-over-period growth rate of 109.9%. That number has been attributed in large part to the country’s use of stablecoins. Stablecoins made up more than 90% of crypto flows in Brazil.

Chainalysis signaled that the region may continue to see more growth. It noted: “Looking ahead, Latin America’s crypto ecosystem appears poised for continued growth, driven by the interplay of institutional adoption in markets like Brazil and persistent retail demand for stablecoins across the region.”

It said the overall trajectory of the market and crypto more broadly in the region, especially stablecoins, is moving beyond its earlier adoption phase and entering the fabric of Latin America’s financial system.

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