Remitly, a leading digital remittance service, is leveraging the power of stablecoins to revolutionize cross-border payments. The company believes that everyone deserves the freedom to access, move, and manage their money globally, especially in an increasingly interconnected world where hundreds of millions navigate life between countries.
Stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar, offer a powerful opportunity to modernize cross-border money movement. With their potential for fast settlement, greater reliability, and broader access, stablecoins are particularly compelling in markets with limited financial infrastructure or high currency volatility.
Introducing Remitly Wallet
In response to evolving customer needs seeking greater stability for their money, Remitly is introducing Remitly Wallet. This secure, multi-currency store of value supports both fiat currencies and stablecoins, offering a safe and flexible way to hold and use funds across borders in one centralized environment. This is especially beneficial for customers in economies with high or unpredictable inflation.
Remitly Wallet is currently in beta testing and planned for launch in September.
Read also: Stablecoin Adoption: Stripe supports USDC and USDB in Over 100 Countries
Expanding Stablecoin Options with Bridge Partnership
Remitly is adding stablecoin rails to its global disbursement network through a partnership with Bridge, a Stripe company. This will give customers in select markets the option to receive stablecoins into a wallet of their choice, seamlessly routed from Remitly’s established fiat infrastructure. Remitly has integrated tokenized U.S. dollar stablecoins like USDC into its internal treasury operations. This allows for real-time value movement across borders (24/7), reducing reliance on pre-funded fiat accounts and enabling faster responses to market demand.
Read also: Stablecoin Adoption: Stripe supports USDC and USDB in Over 100 Countries
As stated by Remitly on its newsroom page, “Just as we’re giving customers greater flexibility in how they store value, we’re also expanding how they receive it. This September, we’re adding stablecoin rails to our global disbursement network through a new partnership with Bridge, a Stripe company. This partnership will give customers in select markets the option to receive stablecoins into a wallet of their choice, seamlessly routed from our established fiat infrastructure.”
Remitly is excited about the potential of stablecoins to accelerate innovation across its platform, enhancing speed, reliability, and value of services. As adoption accelerates and technology matures, Remitly looks to continue expanding stablecoin applications across its business, deepening customer trust and financial access.
Read also: “Nigeria is Open for Stablecoin Business”, says SEC Nigeria. But reality points otherwise.
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