Remitly, a global remittance company, is introducing stablecoin functionality to its payment network to improve the speed and efficiency of international money transfers. The company's plan involves integrating stablecoins into three key areas of its business: value storage, treasury operations, and global payouts.
Key Aspects of the Stablecoin Integration
- Remitly Wallet: A new multi-currency digital wallet that will support both fiat and stablecoins. The wallet is set to begin beta testing in September, allowing users to store and manage funds more flexibly, especially in regions with high inflation.
- Stablecoin Payouts: Through a partnership with stablecoin infrastructure provider Bridge, Remitly will allow customers in select markets to receive funds directly in stablecoins starting in September. This provides an additional payout option alongside existing methods like bank transfers and cash pickup.
- Internal Treasury: Remitly is also integrating stablecoins like USDC into its internal treasury operations. By tokenizing portions of its US dollar reserves, the company can move funds instantly, reducing reliance on pre-funded local currency pools and improving liquidity management.
This strategic move is expected to help Remitly lower the costs of global transfers, which currently average 6.26% globally. The company also hopes to better serve its users—such as freelancers and families—who need a way to preserve the value of their money and avoid the risks of local currency depreciation. By combining blockchain technology with its licensed fiat network, Remitly is positioning itself to be a leader in the evolving landscape of cross-border payments.
August 2025, Cryptoniteuae