Crypto Reporter
Shalini Nagarajan
Crypto Reporter
Shalini Nagarajan
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Remitly plans to introduce stablecoin functionality to its global payment network, marking a big shift in how the remittance company enables international money transfers.
The Seattle-based fintech, known for serving immigrants and overseas workers, aims to improve speed, reliability and cost efficiency for users in over 170 countries.
The company announced Monday it will begin integrating stablecoins across three key areas of its business — value storage, treasury operations and global disbursements.
Stablecoins are digital assets pegged to fiat currencies such as the US dollar and are designed to maintain price stability, making them attractive for payments in emerging markets.
Stablecoin Payouts Coming to Remitly Transfers via Bridge
Remitly’s first move is the launch of Remitly Wallet, a multi-currency digital wallet supporting both fiat and stablecoins. The product is currently in beta testing and is expected to go live in September.
The wallet will allow users to store and use funds flexibly across borders, a feature the company says is especially useful in countries experiencing inflation or currency volatility.
At the same time, Remitly is adding stablecoin payout options to its global transfer network through a partnership with Bridge, a stablecoin infrastructure provider owned by Stripe.
Starting in select markets this September, customers will be able to receive funds in stablecoins, routed directly from Remitly’s existing fiat system into supported wallets.
USDC Now Part of Remitly’s Real-Time Treasury Operations
The company’s fiat payment network already covers more than 170 countries. It supports various delivery methods, including bank transfers, mobile wallets and cash pickup at over 470,000 locations.
Now, with the addition of stablecoins, Remitly aims to expand both the flexibility and reach of its services even further.
Remitly is also integrating stablecoins like USDC into its internal treasury operations. By tokenizing portions of its US dollar reserves, the firm says it can move funds instantly across time zones and during weekends, reducing the need for pre-funded local currency pools and unlocking capital for more efficient liquidity management.
The stablecoin rollout builds on Remitly’s early crypto involvement. In 2021, the company supported fiat off-ramps for platforms like Coinbase and Novi, helping users convert crypto assets into local currency.
That experience laid the foundation for its current approach, which ties Web3 infrastructure to real-world financial needs.
Stablecoins Positioned to Lower Global Transfer Costs
The company says the move responds to evolving customer needs. At the same time, it reflects broader industry trends.
According to the World Bank, global remittance fees average 6.26%. Stablecoins could significantly reduce these costs, especially in regions with weak or unreliable banking infrastructure.
Meanwhile, Remitly notes growing demand among its users — freelancers, small businesses and families, for ways to preserve value and avoid the risks of local currency depreciation.
Stablecoins, especially dollar-backed ones, offer a way to hold money in a form that resists local inflation while remaining liquid.
By combining blockchain-based settlement with its licensed and compliant fiat network, Remitly is positioning itself at the intersection of traditional finance and digital assets. It hopes the move will strengthen user trust and widen access to cross-border financial tools.
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