Tether-Backed Oobit Launches in Chile as LATAM Crypto Payments Momentum Builds

The move deepens Oobit’s expansion across Latin America as Chile’s regulatory clarity and rising digital asset adoption make it a strategic payments market.

Oobit, the Tether-backed crypto payment app, has officially launched in Chile. It is a part of Tether’s efforts to increase adoption in the Latin America (LATAM) region. 

Following the rollout, Chilean users can now access the full range of features offered in the Oobit app. This includes spending their crypto at over 150M+ visa-accepting merchants across the world. Users can also send crypto to any phone number, and using Oobit’s crypto-to-bank transfer feature to transact globally. 

Why Chile Matters in the LATAM Crypto Market?

The move places Oobit in one of LATAM’s more active crypto markets. It’s happening at a time when adoption is expanding across the region. Chile is among the six markets that account for 87% of all crypto activity in the region. 

Chainalysis’s latest crypto adoption report further shows the country recorded $23 billion in annual transaction volumes. Additional data reveals that 93.2% of the current 3.69 million crypto holders plan to increase their digital asset allocation this year. 

Chile’s regulatory readiness is another key factor; the country’s newly enacted Fintech Law provides clearer rules for digital financial services and crypto-related services or infrastructures. 

“Chile represents an important step in our long-term expansion across Latin America,” said Amram Adar, Co-Founder & CEO of Oobit. “The country combines strong fintech adoption, clear regulatory progress, and a growing community of crypto users. With this expansion, we’re expanding access to tools that allow people to move from simply holding digital assets to actually spending them in everyday life.”

Oobit’s main focus is on transforming crypto into instruments for everyday transactions for Chilean users. The app supports wallet integrations with non-custodial wallets, including MetaMask, Phantom, and TrustWallet compatibility. 

Users can make payments directly from these wallets through supported networks, including BNB Chain and Polygon. This approach is designed to reduce friction between decentralized wallets and payment rails used by merchants.

In addition to merchant payments, Oobit also supports crypto-to-bank transfers. Those transfers settle through major international payment systems, including SEPA, ACH, and SPEI. Users can also send crypto directly to a phone number through the app’s peer-to-peer transfer feature.

Tether Backs Oobit’s Expansion into Chile and LATAM

Tether, the largest stablecoin issuer in the world, is a strategic player in Oobit’s expansion. This follows their ongoing collaboration and Tether’s involvement in Oobit’s $25 million Series A funding round. The backing strengthens Oobit’s credibility as it expands across high-growth markets in the LATAM region. 

Beyond Chile, Oobit recently debuted in Brazil and Argentina. The LATAM region is now a point of focus as crypto adoption grows. Users are also seeking convenient ways to utilize digital assets for daily transactions. 

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