Tether Invests in LemFi to Expand Stablecoin Remittances in Emerging Markets

Tether has invested in global fintech platform LemFi as it seeks to expand remittance services in emerging markets. The companies plan to build USDt-based payments and remittance infrastructure to broaden financial access across Africa and Asia.

Tether said on May 18 that it had made a strategic investment in LemFi, which provides cross-border financial services. The deal is aimed at expanding stablecoin-based remittance systems and strengthening financial inclusion.

LemFi is a financial platform that helps migrant workers and diaspora communities in the UK, US, Canada and Europe send money to family members in Africa and Asia. The company said it now serves millions of users.

Tether plans to integrate USDt into LemFi's key remittance corridors as payment infrastructure. The company said that would replace the multi-step remittance model built on the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, with a blockchain-based real-time settlement system, improving transfer speeds and cost efficiency.

The companies also plan to expand stablecoin infrastructure across LemFi's broader services. Their goal is to offer more stable and transparent financial services.

"We share a vision of building a financial system for cross-border remittances that prioritizes speed, cost and transparency," Tether Chief Executive Officer Paolo Ardoino said. "This investment will help bring practical stablecoin use cases to more users."

LemFi Co-Founder and Chief Executive Officer Ridwan Olalere said integrating USDt marked an important step toward delivering faster, cheaper and more reliable financial services. It would also provide a practical alternative for users underserved by traditional financial systems.