[DigitalToday reporter Chi-gyu Hwang (황치규)] Orbit is expanding its Latin America business by launching a cryptocurrency payments platform in Colombia.
According to a recent Cointelegraph report, Colombia is Orbit's ninth market and a regional expansion base following Brazil, Argentina and Chile.
The company said users in Latin America are using digital assets for groceries, restaurants and other everyday spending. Chainalysis data showed the Colombian peso ranked second globally in the share of stablecoin purchases on centralised exchanges by currency.
Orbit operates a non-custodial cryptocurrency payments platform. Users can use digital assets in their wallets for payments without going through a process of cashing out at a traditional bank. The company said its Visa-linked payments system allows payments at more than 150 million merchants in over 80 countries.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr