Remittances are cross-border person-to-person transfers, commonly sent by migrants or other individuals to family members or households in another country.
A remittance service can use cash, bank accounts, mobile money, cards, or digital assets at different stages of the transfer. Stablecoins can serve as the intermediate or settlement asset between the sender and recipient sides. The end-to-end outcome still depends on acquisition costs, foreign exchange, local liquidity, compliance requirements, and the recipient's ability to spend or convert the stablecoin.
Remittances are a specific category of cross-border payment centered on transfers between individuals. Business payments and financial-market settlement are separate cross-border use cases.
Remittances are often evaluated on total cost, speed, accessibility, transparency, and the amount ultimately received by the beneficiary.
A worker can fund a remittance in one country, have the provider transmit value using a stablecoin, and pay the recipient in local currency through a local partner.