Remitly, a leading digital remittance service, will integrate stablecoin functionality across its global payment network starting September 2025. The Seattle-based fintech company announced plans to leverage stablecoins like USDC in three core areas: value storage through its new multi-currency Remitly Wallet, global disbursements via partnership with Stripe-owned Bridge infrastructure, and real-time treasury operations.
The Remitly Wallet, currently in beta, will support both fiat and stablecoins upon its September launch, enabling users across 170+ countries to store and transfer funds while mitigating currency volatility risks. Through the Bridge partnership, select markets will gain stablecoin payout options directly from Remitly's fiat system, enhancing transaction speed and reducing reliance on traditional banking intermediaries.
Internally, Remitly will tokenize portions of its dollar reserves using USDC to enable instant cross-border fund movements across time zones and weekends. This approach aims to eliminate pre-funded local currency pools, unlocking capital efficiency. The initiative builds on Remitly's 2021 crypto integrations with Coinbase and Novi, targeting the World Bank-reported average remittance fee of 6.26% with potential significant reductions.
CEO Matt Oppenheimer emphasized the move responds to growing user demand for inflation-resistant value preservation, particularly among freelancers and families in emerging economies. The integration positions Remitly at the intersection of traditional finance and digital assets, leveraging blockchain's transparency while maintaining regulatory compliance across all operational jurisdictions.