TL;DR:
- Tether announced an investment in LemFi to integrate USDT as a settlement layer in remittance corridors to Africa and Asia.
- The alliance will replace SWIFT, whose processing takes several days, with near-instant, low-cost settlements.
- Paolo Ardoino, CEO of Tether, highlighted that the company has 585 million users worldwide and prioritizes speed and transparency.
Tether announced an investment in LemFi, a financial platform specialized in cross-border remittances that connects communities in the United Kingdom, the United States, Canada and Europe with their families in Africa and Asia. The operation aims to integrate USDT as a settlement layer in LemFi’s main money transfer corridors, replacing traditional SWIFT processes —which can take several days— with near-instant, low-cost settlement transactions.
According to the official statement, the investment is part of Tether’s strategy to expand stablecoin use in emerging markets and bring digital finance tools to populations that have historically been left outside the conventional banking system. LemFi serves millions of people who live and work outside their home countries, and has built its proposition on the premise that financial services should be fair, simple and accessible to everyone, regardless of their location.
Tether Bets on the Infrastructure Traditional Banks Don’t Offer
The agreement contemplates that Tether boost the development of LemFi’s stablecoin infrastructure, progressively extending it across its entire product suite. The goal is to offer more stable, transparent and accessible financial services at both ends of the remittance corridor.
Paolo Ardoino, CEO of Tether, noted that the investment is a direct reflection of a shared vision on how money should move across borders, with a focus on speed, cost and transparency. “We are helping bring the benefits of a stable digital asset to more people who rely on remittances in their daily lives,” he stated.
For his part, Ridwan Olalere, CEO and co-founder of LemFi, described the investment as a key milestone and a validation of the direction the company has been taking. He argued that integrating USDT into its infrastructure brings the platform closer to its goal of making the financial system work equally well for everyone, regardless of where they are or where they send their money.
