At Oobit, we are building the financial system for the stablecoin economy. In recent months we have launched in Chile, Colombia, Argentina, and Bolivia, and earlier in Brazil - and this is not a random set of markets. LATAM does not need to be convinced that stablecoins work. What it lacked was the infrastructure to spend them. That is exactly what we bring.
The market structure speaks for itself. According to Artemis data, USDT absolutely dominates the region's stablecoin transaction volumes: in Bolivia, Peru, and Ecuador it is effectively 100%, in Colombia around 98%, and in Chile and Brazil roughly 90%. Only in Argentina does USDC hold a notable share, but even there USDT leads. As a platform backed by Tether, we build where the digital dollar has already become part of everyday life.
Every market confirms this logic. In Bolivia, where foreign exchange reserves collapsed from $12.7B in 2014 to under $200M, USDT became the de facto dollar - crypto transaction volumes surged 630%.
People held USDT but had nowhere to spend it. We removed that constraint. In Argentina, 72% of all our users' transactions are paid in USDT. Brazil has become our strongest market: +202% activity growth since launch, and an average of around $400 and 20 transactions per active user each month. Colombia became our ninth live market against the backdrop of the region's $44B crypto market.
Our principle is simple: crypto is cash, not collateral. Users pay directly from their self-custody wallets - MetaMask, Trust Wallet, Phantom, at over 150M Visa-accepting merchants, with no upfront conversion and without giving up their keys. We convert stablecoins to fiat instantly on regulated Visa rails: the merchant receives local currency in seconds, and the user never leaves the crypto ecosystem.
And people spend not on luxury, but on the basics. Data from our LATAM markets shows where they go first: grocery stores (35%), restaurants (8.8%), department stores (5.3%), fast food (4.1%). This is everyday commerce, not a display of status.
LATAM is becoming a global leader in the real-world utility of digital assets. And we are proud to be leading that change.