Sling Money, the app known for putting instant global money transfers at your fingertips, has just unveiled a new in-app feature allowing users to load, send, and receive stablecoins via Sling to and from other wallets or exchanges. Previously, Sling Money users could convert fiat currency from regulated banking and payment partners into their Sling Wallet and transfer funds to recipients in over 70 countries where Sling has established payment integrations. With this latest update, Sling Money now operates in more than 150 countries, unlocking the power of instant blockchain transfers for over 2.7 billion people globally.
“We’re not just introducing a new feature; we’re unlocking a new financial frontier,” said Mike Hudack, co-founder and CEO of Avian Labs, Sling Money’s parent company.
This new functionality enables Sling Money users to interface seamlessly with any wallet or exchange supporting USDC or USDP on the Solana blockchain. Solana’s instant stablecoin transfers provide lightning-fast fiat-to-stablecoin and stablecoin-to-fiat conversions within Sling. This feature, combined with Sling Links—allowing users to transact with non-Sling Money users—marks a major leap toward simplifying global payments, making them fast, affordable, and accessible to everyone.
Hudack added, “Stablecoins have already demonstrated a solid product-market fit and are among the most widely held blockchain assets. However, for many, they’ve existed in isolation. Sling Money now bridges stablecoins and fiat, creating the instant financial connectivity the world has been waiting for.”
In August 2024, nearly 120 million on-chain wallets held some amount of USD-pegged stablecoin. For example, USDC is accessible in over 190 countries, with over 17 million on-chain wallets holding USDC value. Yet, only about 2.8 million of these wallets were active during the month, suggesting that many USDC holders are seeking ways to better utilize their holdings. Sling Money aims to unlock this untapped potential by offering:
- A simple, low-cost bridge between fiat and stablecoins with seamless compatibility
- An easy way for stablecoin holders to put their assets to use
- Freedom from the constraints of traditional financial systems, such as long wait times and high fees
- Instant cross-border financial connectivity for billions of people, creating an empowered, borderless economy
Simon Amor, co-founder and Product Designer at Sling, stated: “Sling’s ultimate goal is a world where billions of people can connect financially across borders—instantly, securely, and at little to no cost. As we continue expanding our fiat connectivity globally, this new feature brings us one step closer to that vision by enabling seamless transfers with stablecoins, a currency already widely used. We’re giving our users even more ability to connect financially, regardless of location, while bridging traditional fiat and digital assets.”
The process is straightforward: users can load USDC from any supported wallet or exchange into Sling Money, then either send stablecoins or convert them to the recipient’s preferred fiat currency—all with low fees, powered by the Solana blockchain. Sling Money delivers fast, affordable transactions, meeting the growing demand for financial solutions suited to today’s interconnected world.
The Sling Money app is now available for closed beta use on iOS and Google Play stores.
