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May 14, 2026
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Brazil Signals Rising Demand for Crypto Payments in LATAM
Crypto as Cash, Not Collateral
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Oobit, the non-custodial crypto payments platform backed by Tether, today announced its official launch in Colombia, marking the company’s ninth live market and latest expansion across Latin America’s $44B crypto market. The launch follows a period of sustained growth in the region, led by Brazil, where Oobit has recorded a 202% increase in activity since launching in November 2024.
Colombia joins a growing list of LATAM countries, including Argentina and Chile, that are part of Oobit’s LATAM expansion.
The entry into Colombia’s market is backed by independent market data. According to the latest crypto adoption report by Chainalysis, the Colombian Peso ranked second in the share of centralized exchange stablecoin purchases by currency. A sign that the country has an existing familiarity with dollar-pegged digital assets and interest in crypto products that could solve practical financial use cases.
Brazil has emerged as one of Oobit’s strongest markets; since its debut, the platform has seen over 200% growth in activity. The latest data shows that active Brazilian users are spending an average of around 400 USD per active user per month, while making around 20 transactions during the same period.
Across other countries where Oobit is present in the LATAM region, the data tells a similar story. USDT is the dominant spending token, accounting for the largest share of transactions on the platform. Oobit’s native token ranks second in usage, with USDC sitting at a distant third.
The data reveals a more intriguing pattern in category spending; Oobit users are primarily using the crypto card at everyday merchants. Grocery stores and supermarkets lead category spending across the LATAM region at 35%, restaurants 8.8%, miscellaneous food stores 7.2%, department stores 5.3%, and fast food restaurants 4.1%.
In Brazil specifically, the merchant mix reflects a broader range of spending. Users are spending beyond food and utility stores, with other notable categories like beauty & barber shops accounting for 5.5%, service stations/gas 5%, as well as electronic and automotive outlets.
“Latin America is becoming a global leader in the real world utility of digital assets. 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.”
Oobit’s Co-Founder & CEO, Amram Adar.
Oobit operates as a non-custodial platform; users hold their own keys, which means they retain full ownership of their funds. The platform is also powered by a virtual Visa card that is accepted at over 150 million merchants across 80+ countries. More importantly, Oobit’s users directly spend crypto from their wallets, with no offramp need or bank conversion.
About Oobit:
Oobit is building the financial system for the new economy. Backed by Tether, the platform enables people to pay and operate globally with crypto, directly from the wallets they already use. From everyday payments to real-world spending anywhere Visa is accepted, supported by compliant issuing infrastructure across 80+ countries, turning stablecoins and digital assets into a practical global means of exchange.
Open your treasury, hold dollars, and start paying the world.
Abre tu tesorería, guarda dólares y empieza a pagarle al mundo.
Abra seu tesouro, guarde dólares e comece a pagar o mundo.
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Oobit provides technology that enables users to spend digital assets through existing payment networks. Services are subject to regional availability and regulatory requirements. Oobit operates through multiple entities globally. Certain features may be provided by licensed partners depending on your location.
US Cryptocurrency services are provided in partnership with Bakkt Financial Solutions I, LLC. Bakkt is registered with FinCEN as a Money Services Business (MSB) and holds state money transmitter licenses.