Remitly Launches Stablecoin for Global Transfers
- Remitly launches stablecoin for cross-border payments leveraging Bridge’s infrastructure.
- Seattle-based fintech targets 170+ countries with this feature.
- Driven by demand in key economic corridors, notably boosting efficiency.
Remitly, a Seattle-based fintech company, is set to introduce stablecoin functionalities for international transfers in partnership with Bridge, targeting a rollout by September 2025.
The initiative aims to enhance cross-border transactions amid rising global stablecoin adoption, potentially benefiting users facing currency volatility, though market reactions remain largely unreported.
Remitly, headquartered in Seattle, plans to roll out stablecoin functionality for international payments by September 2025, in collaboration with Bridge, a Stripe-owned infrastructure provider.
The stablecoin integration aims to address cross-border remittance efficiency amidst growing market demand, potentially affecting the use of stablecoins globally.
Stablecoin Push: Remitly Targets 170+ Countries by 2025
Remitly is introducing stablecoin capabilities for improved international remittances, utilizing Bridge’s stablecoin infrastructure. The multi-phase rollout will include wallet storage and cross-border payouts to over 170 countries by September 2025.
Seattle-based Remitly partners with Bridge, enabling seamless cross-border transactions. This significant move involves fintech companies integrating new digital assets to enhance transaction efficiency and user experience in the financial landscape.
Global Transfers: Boost in Liquidity and Efficiency
The decision could lead to faster transactions and lower costs for users engaged in global remittances. High-volume economic corridors may experience enhanced liquidity as a result of this stablecoin integration.
Market dynamics are expected to shift as stablecoin adoption grows, potentially impacting the way fiat currency is traditionally managed or transferred, especially in regions with unstable currencies.
Cross-Border Payments Surge: 30x Increase by 2025
The fintech industry observes a surge in stablecoin use for cross-border payments, similar to a previous 30x increase to $3B in monthly volume by 2025, enhancing remittance speed and cost efficiency.
Based on past trends, Remitly’s initiative might bolster the stablecoin market, enhancing cross-border economic policies and promoting currency stability in countries experiencing inflationary pressures. As Matt Oppenheimer, CEO & Co-founder of Remitly, stated:
“Remitly is proud to share how we’re innovating with stablecoin to introduce new ways to manage, store, and move value across borders”
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