The global remittance market, valued at approximately $900 billion, is experiencing a shift as stablecoins gain traction in cross-border payments. Leveraging blockchain technology, stablecoins offer a cost-effective and faster alternative to traditional remittance systems like Western Union, which currently charge over 6% in transaction fees, according to the World Bank. This development is particularly beneficial for low-income individuals sending money to developing countries. The GENIUS Act, signed by President Trump in July, established a federal regulatory framework for stablecoins, encouraging their integration into mainstream finance. In response, companies such as Western Union and PayPal are developing stablecoin-related products. While traditional remittance firms have established networks and compliance systems, their existing models may impede adaptation. Conversely, crypto-native firms like Coinbase and Kraken are more agile but face challenges in regulatory compliance and brand trust. The competition in the remittance sector is expected to intensify among traditional financial institutions, crypto companies, and fintech platforms as regulatory clarity improves.