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.

Oobit launched its crypto payments platform in Colombia, expanding the Tether-backed company’s operations across Latin America.

The company said Colombia is its ninth live market and follows expansion into countries including Brazil, Argentina and Chile. Chainalysis data cited in the announcement showed the Colombian peso ranked second globally in the share of centralized exchange stablecoin purchases by currency.

Oobit operates a non-custodial crypto payments platform that allows users to spend digital assets directly from their wallets through a Visa-linked payment system accepted at more than 150 million merchants across more than 80 countries, according to the company.

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