Remitly Global (RELY) Investor Update summary

Product innovation and expansion

• Major product launches mark an inflection point, including Remitly Business, Remitly One membership, Remitly Flex (Send Now, Pay Later), and Remitly Wallet for multi-currency and stablecoin storage.

• Remitly Business targets micro and small businesses, expanding the addressable market from $2T to $22T, with features like automated KYB, real-time watchlist screenings, and bulk payments.

• High-value sender segment grew over 45% YoY, with improved risk-based transaction limits and favorable unit economics due to digital disbursement and scale.

• Remitly One aims to deepen customer relationships via a subscription model, offering enhanced benefits for Flex and Wallet users, such as instant funding and rewards.

• Remitly Flex provides up to $250 in short-term credit for urgent remittance needs, with positive early demand and repayment rates.

Financial guidance and outlook

• Q2 was strong, with breakthrough innovation and increased guidance for the year, supported by greater macro certainty and resolved issues like tariffs and remittance taxes.

• Guidance is now more realistic and grounded, with tough comps in Q3 due to high prior-year growth, but overall confidence remains high.

Stablecoins and cross-border payments

• Stablecoins are seen as a tool to improve real-time treasury, liquidity, and FX management, reducing the need for large credit lines and enabling instant settlement.

• Remitly Wallet will allow customers in volatile currency markets to hold stablecoins like USDC, addressing demand for stable savings and leveraging Remitly’s regulatory and payout network.

• Stablecoins could accelerate digitization, lower off-ramp costs, and improve reliability, especially as adoption grows in markets with high demand for stable currencies.