Discover how Remitly is revolutionizing global remittances by integrating stablecoins like USDC, enhancing transaction speed, liquidity, and cost-efficiency. By partnering with Circle and Bridge, Remitly is building a multi-rail platform that meets the evolving needs of consumers and businesses worldwide.
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In the second quarter of 2025, Remitly demonstrated remarkable financial performance, setting a new benchmark in global remittances and digital finance innovation. Key financial highlights for Q2 2025 included a 40% increase in send volume to $18.5 billion, a 34% revenue rise to $411.9 million, and a turnaround to net income of $6.5 million from a previous loss of $12.1 million. Yet, the true revolution lies beyond numbers—in Remitly’s bold integration of digital assets and stablecoins into its platform, signaling a transformative shift in global money movement.
Stablecoins, particularly USDC, are transitioning from niche digital tools to pivotal financial instruments. This evolution is underpinned by enhanced regulatory clarity and widespread institutional adoption, aligning perfectly with the needs of emerging markets demanding stability, speed, and low-cost cross-border transfers. Matt Oppenheimer, Remitly’s Co-founder and CEO, identifies two core customer issues driving this integration.
Firstly, currency stability is a critical concern. For consumers like Layla, a small business owner in Istanbul who has faced significant loss of her savings' value due to the Turkish Lira's depreciation, stablecoins offer a secure way to store value and protect against inflation and currency fluctuation. By enabling access to multi-currency accounts, Remitly empowers users to safeguard their financial future.
Secondly, the traditional global money transfer infrastructure imposes inefficiencies. Conventional banking rails operate on limited schedules, causing delays and tying up working capital. Stablecoins allow Remitly to provide instant fund movement—including during weekends and holidays—which optimizes liquidity deployment and drastically reduces capital lockup across its network covering over 170 countries.
Remitly’s approach is not merely to support niche crypto holders but to integrate these digital dollars at scale, making stablecoins usable across billions of bank accounts, mobile wallets, and numerous cash pickup locations worldwide.
Strategic collaborations play a crucial role in Remitly’s stablecoin journey. Partnering with Circle, the issuer of USDC, ensures full backing and liquidity of the stablecoins held by customers. Meanwhile, Bridge facilitates blockchain payouts by enabling recipients to receive USDC directly in compatible wallets through secure on-chain transfers.
Ankur Sinha, Remitly’s Chief Product and Technology Officer, emphasizes that these partnerships maintain the compliance, transparency, and trust that customers expect from Remitly’s core products. Customers gain flexibility to store or convert USDC to local currency seamlessly within the familiar Remitly app environment.
Beyond customer convenience, Circle’s capability to mint and burn USDC empowers Remitly to fund payouts more efficiently, reducing forex costs, speeding cash flow, and minimizing working capital by bypassing traditional settlement delays. This evolution transforms stablecoins from a front-end feature into a foundational infrastructure upgrade enhancing speed and cost-efficiency.
For customers, the process remains straightforward: send fiat locally, and the recipient gains choice—hold stablecoins in Remitly Wallet or another supported wallet, or convert and withdraw in local currency using traditional rails. Remitly intelligently selects the fastest, most cost-effective delivery paths, adjusting dynamically to changes ensuring timely transfers.
Key corridors such as the US to Argentina, Nigeria, and Turkey are the first to receive stablecoin-enabled services, where stablecoins serve as practical solutions against economic volatility and currency depreciation. Remitly’s extensive customer base of 8.5 million users across 170 countries provides unmatched insights to tailor these solutions effectively.
Looking ahead, Remitly envisions extending stablecoin rails into its B2B offerings, including cross-border payroll and business payments. The benefits of instant settlement, predictable value, and reduced payout costs are as compelling for small and medium businesses and marketplaces as they are for individual consumers.
Pilot programs in select corridors demonstrate stablecoins’ potential to revolutionize global payroll and business payments infrastructure. Remitly aims to become a multi-rail platform, seamlessly integrating traditional banking rails with crypto-native infrastructure, delivering trust, flexibility, and efficiency to customers worldwide.
Matt Oppenheimer encapsulates this vision, stating, "Our differentiators aren’t the number of rails we use; it’s the trust our customers place in us." This commitment to trust combined with cutting-edge technology positions Remitly at the forefront of the new era in global money transfer.
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