What is Oobit and how does its crypto payments platform work?

Oobit is a non-custodial crypto payments platform that lets users spend digital assets through a payment card linked to their crypto balances. The service is designed to support everyday purchases rather than only crypto trading or investing.

Why did Oobit expand into Colombia?

Oobit said Colombia showed strong demand for stablecoin usage and crypto payment services. The company pointed to data showing the Colombian peso ranked among the top fiat currencies used for centralised exchange stablecoin purchases.

Why is Latin America becoming important for crypto payments?

Many Latin American users increasingly use crypto for payments, savings and remittances due to inflation concerns, currency volatility and limited banking access in some regions. Stablecoins are especially popular because they provide exposure to US dollar value.

How strong was Oobit’s growth in Brazil?

Oobit said crypto payment activity in Brazil increased by 200% since launch. The company reported that active users averaged roughly 20 monthly transactions and around $400 in spending.

What cryptocurrencies are most commonly used on Oobit?

Tether was reportedly the dominant payment asset used on the platform. Stablecoins are often preferred for payments because they reduce volatility compared with assets like Bitcoin or Ethereum.

Why are stablecoins popular for real-world payments?

Stablecoins such as Tether are pegged to fiat currencies like the US dollar, making them more practical for everyday transactions. Users can avoid the sharp price swings often associated with traditional cryptocurrencies.

How important is Tether’s investment in Oobit?

Tether led Oobit’s $25 million Series A funding round earlier this year, giving the company additional capital to expand internationally. The partnership also aligns with Tether’s broader strategy to increase stablecoin payment adoption globally.

Image for illustrative purposes only. Not a real photo.

Oobit expands crypto payments service to Colombia

Q: What are people buying with crypto in Brazil?

According to Oobit, users primarily spent crypto on groceries, supermarkets, restaurants and other daily consumer purchases. The company said spending also extended to beauty services and fuel stations.

Written by Mahathir BayenaPublished May. 18 2026Last Updated May. 18 2026

Oobit officially launched its crypto payments platform in Colombia, marking the company’s ninth active market as it expands further across Latin America.

The non-custodial payments company said the move was driven partly by rising stablecoin demand in Colombia, where the Colombian peso ranked second among fiat currencies used for centralised exchange stablecoin purchases.

Oobit allows users to spend cryptocurrency through a payment card linked to digital asset balances, with the company positioning the service as a tool for everyday transactions rather than purely speculative investing.

The company reported strong growth in Brazil, where it said crypto payment activity increased by 200% since launch, with active users averaging roughly 20 monthly transactions and around $400 in spending.

According to Oobit, most Brazilian crypto spending was directed toward grocery stores, supermarkets, restaurants and other daily consumer purchases, with Tether remaining the dominant payment asset on the platform.

“We are seeing a regional shift where crypto is no longer just an investment, but a primary way to pay for groceries and healthcare,”

Oobit co-founder and chief executive Amram Adar said.

The expansion follows a $25 million Series A funding round led by Tether earlier this year, with Tether chief executive Paolo Ardoino previously saying both companies shared a goal of accelerating mainstream crypto payment adoption globally.