Remitly has announced the integration of stablecoins into its cross-border payment infrastructure, positioning itself as a leader in fintech innovation for global remittances.
This move into stablecoin adoption aligns with a significant rise in on-chain payments and promises enhanced speed and transparency in international money transfers.
Global Fintech Remitly has announced a new initiative to integrate stablecoins into its payment infrastructure. The move is aimed at leveraging cryptocurrencies to enhance the global remittance process. CEO Matt Oppenheimer supports this vision.
Remitly plans to integrate stablecoins into its existing payment platform to improve remittance speed and transparency. Remitly’s leadership, under Matt Oppenheimer, drives this innovation to meet the demands of modern financial transactions.
Demand Surges in $3B Cross-Border Payment Market
The initiative targets a growing industry demand for secure and swift cross-border payments. While no direct funding links to the project were disclosed, the sector’s $3 billion monthly volume growth signals significant potential.
Industry trends indicate stablecoins like USDC and USDT could see heightened use. The focus on Ethereum-based platforms reflects a broader reliance on decentralized finance infrastructure. Matt Oppenheimer, CEO and Co-founder, 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.”
Remitly Follows Industry Leaders in Stablecoin Adoption
Remitly follows companies like Reap in adopting stablecoins for business payments, particularly in Latin America and Asia. Such integrations historically enhance transaction efficiency and operational transparency.
Experts suggest the new stablecoin application aligns with increasing stablecoin adoption in digital finance. Kanalcoin analysis supports Remitly’s decision might further stimulate trust in digital cross-border transactions.
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