Oobit released a report showing USDT holds near 100% of stablecoin transaction volumes across multiple Latin American markets, cementing Tether's dominance in the region. The payments and remittance company documented market shares reaching 100% in Bolivia, Peru, and Ecuador, approximately 98% in Colombia, and roughly 90% in Brazil and Chile. The report highlights how USDT has become the default stablecoin for everyday transactions in these economies, with Brazil recording 202% activity growth since Oobit's platform launch.
USDT Commands Near-Total Market Share Across Latin American Countries
According to data sourced from Artemis and Obchakevich Research, "USDT absolutely dominates the region's stablecoin transaction volumes: in Bolivia, Peru, and Ecuador it is effectively 100%, in Colombia around 98%, and in Chile and Brazil roughly 90%."
The only country where USDC maintains significant presence is Argentina, where it accounts for 46% of stablecoin volumes. USDT still commands 53% of all volume in that market. Across all other tracked Latin American markets, USDT's competitor holds minimal share.
Brazil Records 202% Activity Growth on Oobit Platform
Brazil registered 202% activity growth since the platform launched, with each active user averaging 20 transactions per month. The company recently launched operations in Colombia, becoming its ninth live market.
Oobit Links Self-Custody Wallets to Visa Merchant Network
Oobit's business model supports cash-like use of stablecoins by providing a system that allows users to spend stablecoins directly from self-custody wallets like Phantom, MetaMask, and Trust Wallet whenever a merchant accepts Visa cards.
"We convert stablecoins to fiat instantly on regulated Visa rails: the merchant receives local currency in seconds, and the user never leaves the crypto ecosystem," the company stated. This infrastructure connects users to Visa's 150 million merchant network.
Grocery Stores Account for 35% of Stablecoin Payment Transactions
Payment transactions are completed in grocery stores (35%), restaurants (8.8%), department stores (5.3%), and fast food (4.1%). Oobit concluded this transaction distribution shows stablecoins have become the crypto equivalent of cash rather than a display of status.
Frequently Asked Questions
What market share does USDT hold in Latin American stablecoin markets?
USDT holds near 100% market share in Bolivia, Peru, and Ecuador, approximately 98% in Colombia, and roughly 90% in Brazil and Chile according to Oobit's report citing Artemis and Obchakevich Research data.
How much did Brazil's stablecoin activity grow on Oobit's platform?
Brazil recorded 202% activity growth since Oobit's platform launched, with active users averaging 20 transactions per month.
