Remitly Is Incorporating Stablecoins Into Key Business Sectors To Enhance Cross-Border Transactions

The digital financial services firm, Remitly, headquartered in the US, is incorporating stablecoins into its international payment platform, indicating a significant shift from its former approach to global money transfers.

Operating in 170 countries, Remitly mainly caters to immigrants and workers abroad who send remittances to their home nations.

As per its press release issued on August 4, 2025, the company intends to implement stablecoins across fundamental business operations, including value storage, treasury management, and global disbursements.

Since stablecoins provide relative stability by being pegged to fiat currencies like the dollar, they are becoming increasingly trending in emerging markets or areas with severe fiat fluctuations.

Remitly is adopting stablecoins in a phased approach. Initially, it plans to introduce Remitly Digital wallet, a multi-currency wallet that accommodates both fiat and stablecoins.

Although still in beta, the company anticipates launching Remitly Wallet in September. This crypto wallet is crafted for cross-border convenience, allowing users to store and manage their funds efficiently.

I’m excited to witness how this unfolds. It’s a positive indicator that Remitly acts swiftly since they had prior experience with stablecoin projects like USDP/Meta’s Novi several years ago.

It’s also a sensible crypto wallet distribution, as many “regular” and older customers are already accustomed to…

— sheilfer (@sheilfer) August 5, 2025

Remitly emphasizes the importance of this functionality, as it greatly aids individuals living in areas impacted by inflation or currency instability.

Furthermore, Remitly is facilitating stablecoin disbursements throughout its global platform via its collaboration with Bridge (the stablecoin infrastructure provider for Stripe).

In short, starting this September, users in specific markets will have the ability to send and receive funds in stablecoins, seamlessly transitioning from Remitly’s existing fiat systems to supported digital wallets.

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Remitly Is Incorporating USDC Stablecoin Into Its Operations

Remitly’s fiat payment system spans 170 countries and offers various delivery options, such as bank transfers, mobile wallets, and cash pickups at over 470,000 locations.

By integrating stablecoins, the company aims to broaden its outreach and enhance the flexibility of its remittance services.

In this regard, Remitly is ushering the USDC stablecoin into its treasury operations. By tokenizing its USD reserves, Remitly seeks to facilitate instantaneous fund transfers across different time zones and during weekends.

This development will enable the company to lessen its dependence on pre-funded currency reserves and boost its market fluidity.

This stablecoin initiative builds upon Remitly’s earlier engagement with cryptocurrency. In 2021, Remitly supported fiat off-ramps for services like Coinbase and Novi, assisting users in converting their cryptocurrencies into local currencies, thereby establishing a basis for its current strategy and linking Web3 infrastructure to real-world financial demands.

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Embracing Stablecoins: A Sign of More Affordable Cross-Border Payments

The World Bank reports that global remittance fees average 6.26%, presenting a strong case for stablecoins to lower costs, particularly in regions historically neglected by conventional banking systems.