Oobit launches crypto card in Colombia after $25M round

Oobit launched a crypto payment card in Colombia, marking its ninth live market. The Israel-founded, non-custodial payments company reported the launch follows a $25 million Series A led by Tether in February and 200% user growth in Brazil since it entered that market.

The company’s card converts digital assets at the point of sale, allowing users to pay with crypto through a standard credit-card network. Colombia joins Argentina, Brazil and Chile among Oobit’s Latin American markets. Oobit said the expansion responds to rising demand for stablecoin-based payments in the country.

Oobit pointed to exchange data showing the Colombian peso ranked second for stablecoin purchases by currency on centralized exchanges in Colombia. The firm said that pattern reflects growing interest in using stablecoins for spending as well as trading.

In Brazil, Oobit reported active users spend about $400 on average and make roughly 20 transactions per month. The company provided a breakdown of spending in Brazil: 35% of transactions occur at grocery stores and supermarkets, 8.8% at restaurants and 7.2% at miscellaneous food stores. Oobit also recorded payments at beauty and barber shops and at service stations.

Tether’s USDT is the most used currency on Oobit’s platform for payments, followed by the company’s native token, the firm said. Oobit added that users are increasingly treating digital assets like cash for everyday expenses.

Paolo Ardoino, Tether’s CEO, said, “Oobit and Tether share a mutual vision to drive the widespread adoption of cryptocurrencies on a global scale.” Amram Adar, Oobit co-founder and CEO, said, “We are seeing a regional shift where crypto is no longer just an investment, but a primary way to pay for groceries and healthcare.” He added that “Latin America is becoming a global leader in the real-world utility of digital assets.”

The company cited industry data that places the Latin American crypto economy at about $44 billion. Oobit said the Colombia launch is part of a broader effort to expand payments infrastructure that connects stablecoins and other tokens to everyday merchants.