This information is being provided to show a real world example of competition to Remitly. It is not a “pitch” for the competition. Hopefully it will not be deleted because it is impossible to describe the competitive threat without naming the off-topic subject.
I am attaching a link that describes one source of competition for international remittances. Note that it is not necessary to send or receive funds using the asset that shall not be named. Strike is using the network of that asset to make the transfer to different countries, but they are partnering with local entities (in the receiving country) to automatically convert the asset that shall not be named into the local currency (if that is what the recipient wants). So, the person receiving the funds just receives it as their local money - they don’t even need to know what network was used to send it to them.
This method of transfer is not necessarily cheaper than standard remittance companies, but it is instant and it can be done with amounts as low as $5 - and in some instances, it is cheaper than sending with standard remittance companies.
Also note that they are using the Lightning network to keep fees lower than sending on the main chain of the asset that shall not be named. So, the concern that some have raised about large fees on the main chain does not apply.
This is one example.
African countries where this is currently available are: Benin, Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, Senegal, and Togo.