Tether-backed Oobit expands crypto payments platform into Colombia
The crypto payments company said users in Latin America are spending digital assets on groceries, restaurants and other everyday purchases....
Key takeaways
- 1Oobit expanded into Colombia as its ninth Latin American market, enabling direct crypto spending at 150+ million merchants globally.
- 2Brazil activity surged 200% since November 2024 launch, with users averaging $400 monthly spending across 20 transactions.
- 3Stablecoin market grew from $243 billion to $322 billion; USDT leads Oobit transactions, with groceries accounting for 35% of Latin American spending.
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Why it matters
This demonstrates crypto's shift toward practical payments in emerging markets where traditional banking is limited. For Indian retail investors, it signals growing institutional adoption of stablecoins and real-world utility driving crypto demand beyond speculation, similar to potential opportunities in underbanked regions.
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