Oobit has gone live in Colombia, marking the ninth country where the crypto payments firm operates. The launch comes after the company saw 200% growth in Brazil and points to rising appetite for digital currency payments across Latin America.
A growing Latin American footprint
Colombia is Oobit's latest addition to a roster that already includes markets like Brazil, Argentina, and Mexico. The company's 200% growth in Brazil wasn't just a regional outlier — it showed that Latin American users are increasingly comfortable using crypto for everyday transactions. Oobit's app lets people pay with stablecoins and other crypto at merchants, converting instantly so merchants receive local currency.
Why Colombia? Stablecoins and the peso
The Colombian peso ranked second among all fiat currencies used for stablecoin purchases on centralized exchanges, according to data cited by the company. That suggests a real, existing user base that's already buying USDT or USDC with pesos. For Oobit, the move isn't speculative — it's meeting a demand that's already there. The timing also lines up with broader trends: inflation and remittance flows make stablecoins an attractive alternative for Colombians.
What this means for the region
Oobit's expansion signals that the crypto payments sector is maturing beyond early adopters. Colombia's regulatory environment has been relatively open compared to some neighbors, though the central bank has issued warnings about crypto risks. The company didn't announce a timeline for further launches, but with nine markets live, Latin America is clearly a priority. The question now is whether other payments firms will follow Oobit's route into Colombia — and whether local merchants will keep signing up.
